Interim results for Belvoir Lettings

September 9, 2015

Belvoir Lettings PLC,  one of the  largest lettings franchises in the UK  announce their interim results today for the six months ended 30 June 2015.

The Belvoir network currently stands at 166 outlets having introduced 5 new franchisees to the network in the last 6 months, they also say that there is a stronger pipeline of future franchisees within the market following the General Election

They mention that the roll out of estate agency services are on target to achieve 35% of the Belvoir outlets by the end of the year, there are further franchise-led acquisitions in the pipeline for the second half.

Financial Highlights in the interim : Strong growth in Management Service Fees of 14% to £1.76m (H1 2014: £1.54m) Focused control of costs led to reduced administrative expenses (excluding corporates) by 11% to £1.30m (H1 2014: £1.47m) reflecting less reliance on outsourced professional services and no bad debts in the period Profit after tax maintained at £0.60m (H1 2014: £0.61m) despite the effect of the Election

Mike Goddard, Chief Executive Officer of Belvoir Lettings, commenting on the results, said:
“We are encouraged that our support of franchisee growth through targeted acquisitions is bearing fruit with a 14% growth in our management service fees (MSF).  Even more importantly is our move into a multi-brand strategy with the purchase of Newton Fallowell in July, a well-known East Midlands franchise network of 31 offices. The impact of this and our stronger recruitment pipeline will start to show in H2 2015 and underpins our medium-term growth plans.”

To see full details of the interim results out today go to the Belvoir Lettings website: http://www.belvoir.co.uk/

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Persistent decline to give way to recovery in 2027

Glenigan’s Autumn 2026 Construction Forecast maintains that sector growth will revive in 2027, despite a challenging year of market stagnation Following a sluggish end to 2026, construction is set to rebound from 2027 onwards as public sector building increases Significant value gains expected for health, education, civils, offices and data centre projects Private and social…
Read More →
Estate Agent Talk

The Plumbing and Electrical Problems That Quietly Kill Sales and Lettings

We’ve all had one of these. The offer’s agreed. Everyone’s happy. The memorandum of sale has gone out, and you’re already mentally banking the fee. Then the buyer’s survey comes back. “Electrics appear dated. Recommend inspection by a qualified electrician.” And just like that, the mood changes. The buyer starts asking about a reduction. The…
Read More →
Breaking News

Rental price and average salary tracker – October 2026

Rental prices rise across most regions as affordability pressures persist Average monthly rents increased in eight of the 11 regions between September and October, with Wales recording the largest rise at 31.1%, followed by the North East at 29.8% and the South West at 7.5%. Scotland, London and the North West were the only regions…
Read More →
Letting Agent Talk

Portfolio landlords have outgrown traditional property management

By Adam Hills, Client Services Director, LRG Living Markets The residential lettings industry still manages many large portfolios as though they’re simply collections of individual tenancies. While that works on small portfolios, but it doesn’t work when landlords own 50, 100 or 200 properties. At that point, the challenge is no longer property management alone…
Read More →
Breaking News

Real-life value of the most famous Christmas film homes

The real-life value of the most famous Christmas film homes, from budget classics to multimillion-pound mansions New research has gathered and analysed the estimated valuations of real homes featured in popular Christmas films, ranking them by cost. The priciest homes are featured in The Holiday, Trading Places, and Home Alone, with Amanda’s home from The…
Read More →
Estate Agent Talk

77% of buyers refuse to buy a flood risk property

Despite 4.7 million English homes facing flood risk New research from Lyons Bowe has revealed that 77% of homebuyers would not consider purchasing a property in a flood risk area, despite more than 4.7 million homes across England currently being deemed at risk of flooding. The findings come as the Government launches a new flood taskforce amid…
Read More →