Belvoir Lettings PLC report H1 revenue up 15%

September 5, 2017

Belvoir Lettings PLC the UK’s largest property franchise, today announced their interim results for the six months ended 30 June 2017.

Heading the Financial Highlights section they report: Group revenue up 15% to £4,921,000 (H1 2016: £4,293,000)

Operational Highlights leads: Seven new franchise owners joining the Group into two new and five existing territories.

Dorian Gonsalves, Chief Executive Officer of Belvoir Lettings, commenting on the results, said:
“The Group has been focused on meeting our franchisees entrepreneurial growth ambitions and putting them in the very best possible position to maximise their market share within their territory.  Our franchisees have embraced the opportunity to develop their business under our Assisted Acquisitions programme, many of them doubling the size of their business overnight, and from offering additional services such as property sales and financial services.  The acquisition of Brook in July will provide further opportunity for growth at both the franchisee and franchisor level.

“In H1 the Group achieved organic growth from MSF, our key revenue stream, of 4% which is higher than the reported rental index within the sector, and continued growth from property sales, in a market that has seen some mixed results from other companies in the sector.

“Our ability to outperform the market has helped to deliver a strong set of first half results, and with a promising start to the second half, Belvoir is on track to meet management expectations for the year.”

Read the Belvoir Lettings PLC announcement 5th September 2017 in full click here.

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.

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