Belvoir Group PLC (AIM:BLV) hoisted profits by more than 50% in its latest half-year as the booming property market meant strong growth in all divisions.
Lettings income rose by 21%, property sales commissions by 78% and financial services fees 51% in the six months to end June 2021.
Interim revenues overall rose by 41% to £13.8mln with franchise fees 26% ahead at £5.2mln, while profits for the half-year jumped 51% to £4.8mln.
Cash generation was also strong, said the AIM-listed group, with net debt at the end of the period just under £4mln (£5.7mln) even with acquisitions.
In particular, the 20-office Nicholas Humphreys lettings and estate agency network was bought for £4.4mln in March and chipped in about 8% of the revenue increase.
Dorian Gonsalves, chief executive, said the results were "considerably" ahead of expectations at the start of the year.
“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," he added.
The interim dividend rises by 18% to 4p.