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

One in five landlords don’t trust letting agents

The latest research by The Letting Partnership has found that almost one in five landlords do not trust letting agents to correctly handle rental income and tenancy deposits, whilst a lack of visibility around compliance standards is preventing many agents from building greater confidence with their clients. The Letting Partnership surveyed 890 landlords across England…
Read More →
Breaking News

Rental price and average salary tracker – May 2026

Scottish Rent Surge Drives Regional Growth as Affordability Pressures Persist Across UK Scotland recorded the strongest monthly rental growth of any UK region, with average rents rising from £1,167 in April to £1,257 in May (+7.7%), pushing the typical salary required to secure a home to £37,710. London average monthly costs increased from £2,259 to…
Read More →
Letting Agent Talk

Rental yields climb across London

Tower Hamlets and Newham deliver strongest buy-to-let returns as rental yields climb across London   The latest research from London lettings and estate agent, Benham and Reeves, reveals that Tower Hamlets and Newham currently offer the strongest rental yields for buy-to-let landlords, having also recorded the largest annual increases in rental yield across all London…
Read More →
Overseas Property

World Cup host cities have seen house prices climb by 44%

World Cup host cities have seen house prices climb by 44% since 2026 tournament announcement   The latest analysis from Enness Global has revealed that property values across the cities selected to host matches during the 2026 FIFA World Cup have increased by an average of 44% since the tournament was awarded in 2018, highlighting…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

Nearly Third of Homebuyers Choose Conveyancer Recommended by Estate Agent

New research from Lyons Bowe Solicitors has revealed that nearly a third of homebuyers choose a conveyancer recommended by their estate agent, while only 40% compare multiple firms before making a decision. The findings come at a challenging time for the UK housing market. According to the latest Zoopla House Price Index, annual homebuyer demand…
Read More →
Estate Agent Talk

FCA proposals to boost mortgages supply for underserved markets

Comments from Julian Sampson, Partner and Head of Lending Department at TWM Solicitors, a leading commercial law firm.   The FCA is announcing mortgage rule changes that should improve the supply of mortgages to underserved markets such as the self-employed, the elderly and borrowers with weak credit histories. Julian Sampson says, “There are still significant parts…
Read More →