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

As RRA Changes Loom, Thoughts from the Industry

Overview of changes due via RRA as of Friday 1st May Abolish section 21 evictions and move to a simpler tenancy structure where all assured tenancies are periodic – providing more security for tenants. Ensure possession grounds are fair to both tenants and landlords – giving tenants more security, while ensuring landlords can reasonably recover…
Read More →
Letting Agent Talk

Three steps landlords should take to pet-proof properties under new laws

With new pet rental rules set to come into force on the 1st of May, landlords are being urged to act quickly to prepare their properties and policies. The changes come at a time when demand for pet-friendly homes is far outpacing supply, with up to 13 million dogs across the UK but fewer than…
Read More →
Breaking News

Market continues to build momentum

Foxtons Lettings Market Index – March 2026 Market continues to build momentum, recovering from winter slowdown as supply strengthens   Lettings market continues to build momentum as we move further into the spring period. While renter demand remains below last year’s levels, March performance shows continued recovery from the winter slowdown. Market entering critical period…
Read More →
to let sign 2025
Letting Agent Talk

41% of letting agents unaware of rent rule changes

The latest research by The Letting Partnership has found that a significant proportion of letting agents remain unaware of key changes to rent in advance rules under the Renters’ Rights Act, despite the reforms coming into force from 1st of May 2026 and almost 40% of agents still taking more than one month’s rent up front.…
Read More →
Home and Living

How homeowners can fight back against rising energy bills

New research from Yopa warns that millions of homeowners are set to be hit with a 14% jump in energy bills this summer, wiping out recent savings and piling fresh pressure on household finances. In response, Yopa has analysed which home improvements are most effective at reducing energy use, looking at both the typical savings delivered…
Read More →
Breaking News

Homes selling as fast as last year

First time buyers in outer London hit hardest as higher borrowing costs and  high stamp duty costs weigh on sales times   The average time to sell a home is just 1 day longer than last year at 33 days, despite higher mortgage rates and 2 months of conflict in the Middle East However, areas…
Read More →