Belvoir Lettings Plc announces the Group has performed well throughout the year
Belvoir Lettings PLC the UK’s largest property franchise, today released an update on the outcome of the financial year ended 31 December 2017 and the outlook for 2018.
In the announcement it states: The Group has performed well throughout the year reflecting the continued underlying organic growth in franchise management service fee income, a record number of portfolio acquisitions at a franchisee level and the integration of recent acquisitions.
The announcemnt highlights: Management Service Fees (‘MSF’) increased by 22% and Group revenue up 13% to £11.1m (2016: £9.9m)
Dorian Gonsalves, CEO of Belvoir commented:
“In 2017 Belvoir successfully supported franchise growth across all our brands through our Assisted Acquisitions programme and by promoting additional revenue streams such as property sales and property related financial services.
“The Board is excited by the continued opportunities for consolidation within the sector with the Belvoir Group well placed to take advantage at both a local and national level. We anticipate that smaller independent agents will continue to look to exit following increased regulation and the prospect of the ban on tenant fees in 2019, and our acquisitions team is working closely with our entrepreneurial franchisees who are keen to invest to grow their business.”
Read the announcement from Belvoir Lettings Plc 7th February 2018 in full click here.
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