Another year of strong growth for Belvoir Group
Belvoir Lettings plc, the UK’s largest property franchise group, today announced its preliminary results for the year ended 31 December 2017.
Group revenue up 14% to £11.3m (2016: £9.9m) – Profit before tax up 62% to £3.9m (2016: £2.4m) and adjusted profit before tax up 39% to £4.9m (2016: £3.5m).
Dorian Gonsalves, Chief Executive Officer of Belvoir Lettings, commented:
“We are pleased to report another year of strong growth for the Group, in terms of both revenues and profitability. Our franchisees, who are mostly owner-operators, have continued to grow organically, through diversification and by making local portfolio acquisitions, all of which have contributed to our adjusted profit in 2017 being up 39%. Our franchisees are incredibly motivated to find ways to grow and develop their business and this dynamism, combined with local property expertise, underpins our continued successful growth.
Looking to 2018, the Board remains confident that the Belvoir Group will benefit from further consolidation within the sector, further integration of our recent acquisitions to deliver additional efficiencies and diversification of property-related services offered through our franchised networks, to ensure a continued increase in shareholder value.”
Read the Belvoir Lettings PLC announcement 10th April 2018 in full click here