leadf
logo-loader
viewBelvoir Group PLC

Belvoir Group sees quick recovery in housing market

Snapshot

  • Franchised lettings agency group
  • Also owns financial services business providing mortgages
  • Confident of weathering coronavirus storm
Belvoir Group PLC

Quick facts: Belvoir Group PLC

Price: 142.5 GBX

AIM:BLV
Market: AIM
Market Cap: £50.05 m
Follow

What Belvoir does

Belvoir Group PLC (LON:BLV) is the UK’s largest property lettings franchise.

Founded in 1995, the firm currently has over 300 offices managing around 69,000 properties.

The company also operates a financial services arm which provides its customers with mortgages and other property-related financial services products.

How it's doing

Despite the disruption caused by COVID-19, Belvoir saw revenue in the first half of 2020 rise by 8% to £9.77mln from £9.05mln the year before, and profit before tax jump 17% to £3.16mln from £2.70mln.

The group continued to achieve revenue growth across the three markets in which it operates with lettings up 8% year-on-year, property sales up 14% and financial services up 7%.

The group now has a portfolio of 69,000 managed properties, up from 64,650 at the end of June 2019, with eight franchise owners having completed on an assisted acquisition adding £1.47mln a year of franchisee network revenue in the year to date.

The lettings to sales revenue ratio from Belvoir’s estate and lettings offices remains unchanged at 80%/20%.

In October, Belvoir completed the 100th transaction under its Assisted Acquisitions programme, a core part of the group's growth strategy.

What the boss says: Dorian Gonsalves, chief executive

"The Assisted Acquisitions programme, now in its seventh year, has gone from strength to strength. Since 2014 we have provided both commercial and financial support in relation to 100 deals with some of our ambitious franchisees having undertaken more than one acquisition to grow their business.

"The strategy is a win-win for both the franchisee and the franchisor, having been a significant contributing factor in the 80% increase in average revenue of our franchisees up from £150,000 in 2013 to £270,000 in 2019."

Video

Inflexion points

  • Profits and revenues to grow for 23rd consecutive year
  • Housing market reopened earlier than expected
  • Swift recovery in lettings market

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Belvoir Group PLC named herein, including the promotion by the Company of Belvoir Group PLC in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Market report: FTSE Friday feeling as UK economy grows for a third month in...

The FTSE’s got that Friday feeling today - after news the UK economy grew by 6.6% in July, up for a third month in a row that the economy has expanded - although that is far below pre-pandemic levels and now that more restrictions are coming back into place, it’s not yet time...

on 11/9/20

2 min read