Property franchise Belvoir Group has announced that interim profits have increased sharply as an exceptionally strong property market brought about growth across the company.
Belvoir said lettings income were up 21%, while property sales commissions rose 78% and financial services fees grew 51% in the six months ended 30 June.
Interim revenues were up 41% at £13.8m, with franchise fees 26% higher at £5.2m and interim profits were 51% at £4.8m. This enabled the interim dividend to be raised from 3.4p a share to 4p a share.
Dorian Gonsalves, CEO of Belvoir Group, commented: “Having reported H1 profitability considerably ahead of our start of year expectations, and given the group’s further investment in earnings enhancing businesses to expand both the property and the financial services divisions, and high activity levels within all areas of our business at the start of H2, the board is confident of achieving a strong trading performance for the full year.”
Never read a bad story about Belvoir; seems a very well-run business from the outside looking in
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