Company
Belvoir Group PLC
LON:BLV
Belvoir Group PLC operates a nationwide property franchise group with 487 offices across seven brands specialising in residential lettings, property management, residential sales and property-related financial services. With its central office in Grantham, Lincolnshire, the group manages 75,000 properties and reported record revenues of £33.7m in 2022 marking Belvoir's 26th year of unbroken profit growth.
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Belvoir Group shows resilience in tough property sector
Founded in 1995, the firm currently has over 300 offices managing around 67,000 properties.
Belvoir shares have plenty of upside, suggests broker finnCap
Recurring lettings revenue accounts for around 56% of the group's gross profit
Analysts at finnCap note that Belvoir's interims show continued benefits from its direct and indirect investments
"With the outlook underpinned by strong pipelines in sales and mortgages and the defensive growth nature of lettings we make no changes to our full-year forecasts or target price", the finnCap analysts said
Belvoir expects to hit expectations despite increasing headwinds on households
While the housing market has remained resilient, households are facing challenges such as higher inflation, mortgage rates and rents
Belvoir says performing ‘well’ and in line with expectations
Revenue for the six months to 30 June 2022 grew by 11%
Belvoir says it is business as usual
"Since early 2020, the UK property sector has experienced a number of different market drivers, but for Belvoir it has been 'business as usual'," CEO Dorian Gonsalves will tell shareholders at today's AGM
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Belvoir Group swoops for mortgage advisory group in £3.67mln deal
"The acquisition of TIME will extend our network of financial advisers to support both our franchisees at a local level, as well as servicing leads from independent agents,” said Belvoir chief executive Dorian Gonsalves
Belvoir receives higher price target from finnCap
The company’s strong results were supported by housing transactions but point to long-term value and potential in growing the business
Belvoir Group continues outperformance in record 2021
The company has grown profits for 25 years in a row
Belvoir's latest deal highlights value it can add through acquisition
MMC offers a personal, high-quality approach to their clients
Belvoir Group acquires 'personal-style' estate agency in strategic move
“The acquisition will offer customers a wider choice of how they interact with the group"
Belvoir 'signficantly undervalued' according to broker finnCap
“Rents are rising, with supply restricted, and financial Services benefits from remortgaging activity when sales are quieter.”
Belvoir 'comfortably' ahead of forecasts after house sales boom
Financial services was also buoyant and helped by the acquisition of Nottingham Mortgage Services
Belvoir Group appoints non-executive director to help fuel ‘substantial growth’
Jon has over 19 years’ experience in property, having joined Telford Homes in 2002 where he served as finance director until 2011 and as chief executive from 2011 to now
Belvoir Group names Michelle Brook as new financial services director
She has managed in financial services for over 25 years
Belvoir ups forecasts again as lettings demand hits 'unprecedented' levels
It is the "strongest market for property transactions seen since 2007"
Belvoir target raised after exceptionally strong first half
A very buoyant housing market does not detract from the strategic progress the group continues to make
Belvoir Group full of confidence as profits surge ahead
"The board is confident of achieving a strong trading performance for the full year"
Belvoir price target upgraded to 359p after strong first half
"Belvoir has a range of growth opportunities in a changing, large and fragmented market"
Belvoir trading ahead of expectations
The board is confident of achieving a strong trading performance for the full financial year
Belvoir Group investor Q&A
Belvoir Group answers investor questions following the company's presentation at the Proactive Investors One2One Virtual Forum on 3 June
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Belvoir Group can significantly grow financial services segment with new partnership, says broker
"Belvoir has a range of growth opportunities in a changing, large and fragmented market and has the model (franchise based) and proven management skill to continue to take advantage of them"
Belvoir Group to acquire Nottingham Mortgage Services for £600,000
“Our strategic alliance is embedding really well across the network for estate agency and together we can help people not only find their new home but also fund it with the right mortgage for them"
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Belvoir Group raises full-year guidance as pent-up demand boosts revenues
Even after a busy start to the year for completions, pipelines of agreed house sales are still almost double those of this time last year, Belvoir said
Belvoir Group reinstates dividend as trading continues to meet expectations
The lettings market remains resilient as demonstrated throughout the pandemic, while the sales and financial services markets are expected to remain buoyant thanks to government measures
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Belvoir Group acquires estate agent and letting chain for £4mln in earnings accretive deal
The purchase was made from existing cash resources
Belvoir Group beats forecasts as buoyant house sales drive revenues higher
House sales income rose by 12% and financial services by 13%
Belvoir reports 26% rise in financial services profits as advisers top 200
Belvoir has seen a profits uplift of 100% from its two acquired financial services businesses
Belvoir Group ahead of pre-coronavirus forecasts as housing market roars back
All staff will have salary sacrifices reimbursed, furlough money will be repaid and the missed 2019 dividend reinstated
Belvoir Group successfully completes 100th transaction under its Assisted Acquisitions programme for franchisees
Franchisees across all of the group's networks have embraced the strategy, seeing the acquisition of a local business as a means of significant growth with many of them doubling the size of their business overnight
Belvoir says former chairman sell 2mln shares to institutional investors at 150p each
Following the share sale, Mike Goddard will be left with 203,683 Belvoir ordinary shares, representing 0.6% of Belvoir's issued share capital
Belvoir Group confident of meeting expectations as post-lockdown activities hit record levels
The group's lettings business scarcely missed a beat during the first half of 2020 with network lettings revenue comparable with 2019, despite the impact of the coronavirus
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Belvoir Group to hit pre-coronavirus targets as property market activity surges back
Since mid-May, the group said there has also been a surge of activity due to pent-up demand
Belvoir higher as it enters estate agent alliance with Nottingham Building Society
Under the agreement, Belvoir said the vast majority of the building society's estate agency and lettings activity will transfer over to the company
Belvoir pleasantly surprised by the resilience of its franchise networks
The overall April performance for the group was significantly stronger than had been anticipated.
Belvoir Group confident it can weather housing market coronavirus shutdown
A range of possible downside outcomes for the rest of the calendar year and 2021 have been modelled
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The lettings agency said profits in 2019 will be 'comfortably ahead' of expectations after revenues surged ahead
Belvoir Group tacks on Humberside network for £2mln
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Belvoir gets profit benefit as financial adviser numbers grow 30%
A new eight-year agreement with Dacres, a 20-office estate agency in Yorkshire, could see Belvoir increase its current four advisers in the area to 10 over the next two years
Belvoir Group's founder to trim stake
Founder and former chairman Mike Goddard currently owns 12.6% of the total in issue
Belvoir profits jump as it outperforms across key markets in first half
Revenues in the period were boosted by a significant increase in takings from the group's financial services arm following several mortgage broker acquisitions
Belvoir “at an advantage” in changing property market, says finnCap
The broker initiated coverage of the lettings group on Wednesday with a target price of 190p, a 79% premium on the current value of the stock
Belvoir franchise model proves resilience as property profits 'comfortably ahead'
“We have seen positive results both from our property franchise and our financial services networks, and are confident that the group is well positioned to take advantage of the opportunities arising from a more challenging market”
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Belvoir Lettings changes name to Belvoir Group to reflect diversification
The company said the new name will better represent the business as a multi franchiser.
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Belvoir Lettings outperforming on all fronts
"The board is delighted to report that trading during the first quarter of the current financial year has been robust"
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Belvoir Lettings confident of further opportunities for growth
"Our value creating strategy has enabled us to consistently deliver profit growth for over two decades and achieve a threefold increase in profit before tax since 2014," declared Dorian Gonsalves, the CEO of Belvoir
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Belvoir Group carries out growth strategy under new name
Belvoir said its new name will better represent the business as a multi franchiser
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Belvoir Lettings revenues rise as rental market defies property wobble
A ban on tenant fees from June will have less impact than expected, said Belvoir
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Belvoir Lettings strengthens mortgage broking division with £3.6mln West Country buy
MAB Glos will be the springboard for Belvoir to establish mortgage coverage across the whole of UK
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Belvoir Lettings lifts profits by 19% as franchisees shrug off tough property market
The group now has 61,000 properties under its management
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