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Seymour Pierce reiterated its "buy" recommendation on Belvoir Lettings (BLV) with a target price of 113p. The reiteration comes after the company issued a trading update confirming the continued expansion of its network with the acquisition of four company owned stores, including that of Aldine Honey & Company, an estate agency operating in Belgravia, Chelsea and Kensington. The broker sees this as a shrewd move in terms of bolstering revenues. Seymour Pierce also notes that the underlying market strength for lettings in the UK is strong, with average yields on residential property at 5.4%, and uses this as further justification for its stance
Belvoir Lettings: Seymour Pierce raises target price from 91p to 112p, buy recommendation remains unchanged.
Tell you what Barrers who are the patsys here .Just so surprised if this share wasgoing to buzz why did it take so long for any interest .The lettings amrket has been bouyant for sometime no change there Winco will need a new hangar ro storethe spondoolies
Told you before they dont give two hoots. I was told in no uncertain terms that they have so many big city investors that what winco does is of no significance and if he wanted to sell his shares to attract some funds then so be it. Barrers.
Amazing sent 2 emails to Belvoir investor relations asking the to clarify the fact that Goddard knocked out a major buindle of shares at a good price when in the listing documents he confirmed that he would not sell any within the first 12 months No response they dont act like alisted company som epersonal fiefdom quite apaaling really
i did thanks Barrers .They look fine but the word Greek loomed up loud.I bought some Bloomsbury (e-books are selling well and they have a good stable of authors More recently Ive bought some "recovery" shares probably falling swords! Shaft Sinkers S african mining problems depressing stock Mat Gurney profits warning and Terrace Hill commecial proeprty company they have some intereting foodstores in pipeline chairman is a very clever cookie with large holding They recently jettisoned resi portfolio Telfords are the boyos and I thank Steph for guiding me in there good luck
Thats strange im sure that in the listing Winco(goddard) and fellow directors confirmed that they would not sell their shares within first 12 months of the listing
Belvoir Lettings Sell 10-Sep-12 £530,999.99 Mike Goddard 600,000 @ 88.50p
BARRERS THINGS HOTTING UP HERE YOU WOULD THINK THAT THIS SHARE WOULD HAVE INSPIRED SOME INTEREST WITH THE GOLD RUN OF THE LETTINGS MARKET BEFORE NOW MORE SHRAES TRADED YESTERDAY THAN SINCETHE LAUNCH WINCO MUST BE RUBBING HIS HANDS LOOKING FORWARD TO JETTISON HIS SHARES NEXT FEB HANSTEEN WORKING OUT QUITE WELL BARRERS YOU CAN SIT ABCK AND WATCH WITH YOUR PIPE AND SLIPPERS
Seymour Pierce reiterated its "buy" recommendation for Belvoir Lettings (BLV) with a 91p target price. The letting agency will issue its interim results on Wednesday, the first since listing on AIM in February 2012, and the broker expects the firm to have benefited from a growing rental market, as would be buyers struggle to accumulate sufficient funds for a deposit. While Seymour Pierce noted that rental prices fell from October 2011 to March 2012, it said that they have recovered sharply, with July 2012 rates averaging 725 pounds per month, compared to October levels of 720 pounds.
Strategy: When Belvoir Lettings PLC floated in February of this year, we announced a number of key targets and projects. We shared our business plans with our new investors, the franchise network and of course our internal team, who we knew would be critical to the success and achievement of this plan. Our strategic focus for 2012 and beyond in abbreviated terms is as follows: • Open 15 new franchised outlets in areas where we do not currently have a Belvoir Office. • Increase the number of company owned outlets by two additional outlets in 2012 and two more each year for the next three years. • Maintain our existing strong underlying growth in turnover from franchised outlets. • Assist franchise owners acquire 12 - 15 competing letting agencies and help integrate these businesses into existing Belvoir offices, thus substantially increasing turnover and profits for the franchise owners concerned and Belvoir Lettings PLC.
Commenting on the results and the outlook, Dorian Gonsalves, Chief Executive Officer of Belvoir Lettings, said: "Belvoir delivered a strong financial performance for the six month period to June 2012. All targets set were either achieved or exceeded in line with our forecasts. During the period we grew the franchise business from 142 to 144 franchise outlets and we anticipate the number of Belvoir offices to reach 150 by the end of 2012." "Belvoir's debut on the AIM market of the London Stock Exchange in February this year will enable us to continue to expand the brand's national reach and strong market presence in the UK residential lettings market which is continuing to grow and remains strong. We remain committed to providing a professional and personal service designed to exceed the expectations of landlords and tenants." "Looking ahead we have a strong pipeline for the remainder of 2012 and we expect to meet our expectations. The business continues to grow and increase its market share in a growth market and we are specifically looking to target the South East and London markets, which hold huge potential for Belvoir."
Interim Results for the six months ended 30 June 2012 Belvoir Lettings PLC (AIM: BLV), one of the UK's largest lettings franchises which recently listed on AIM, is pleased to announce its interim results for the six months ended 30 June 2012. The interim accounts are prepared using merger accounting principles. To ensure consistency of accounting treatment, the comparative figures include the results of the previous group holding company. As part of Belvoir's IPO process, the Belvoir group underwent a reconstruction whereby Belvoir, a newly incorporated entity, became the new group holding company with effect from 16 February 2012. Kilima Holdings Limited ("Kilima") was the relevant holding company for Belvoir Property Management (UK) Limited prior to reorganisation ahead of the Company's IPO. As part of the IPO group reconstruction process, Kilima underwent a solvent liquidation and has therefore ceased trading. Highlights · Successful IPO on AIM on 19 February 2012 raising £6.2m net of expenses · All 2012 performance targets to date were either met or exceeded · 144 franchise outlets at 30 June 2012 with 4 further outlets attending induction training in August 2012 (At 31 December 2011 - 142) · 5 significant acquisitions completed by Belvoir franchisees since IPO · Revenue of £1.83m, an increase of 16.7% on the same six month period in 2011 · Excluding an exceptional charge relating to the costs of the Group's Admission to AIM, operating profit as a percentage of turnover was 48% · Rental market continued to grow with an estimated 3 million private rented properties in England, representing 14% of all households · Some 60% of private rental properties are believed to be owned by landlords who use lettings agents. Management expect this percentage to grow further · Maiden interim dividend of 2.9 pence per share (H1 2011: nil)
http://www.investegate.co.uk/Article.aspx?id=201209050700044953L
why has this share not provoked amy interest .Its a zippy sector lettings especially with the gold run of the buy to let.The company has a brand .good website and front of house although personally I dont think they offer a lot to an agency and I have made my feelings known regarding the mangement but certainly worthy of some comments from other rposters where are you all?
Had a lot of issues to deal with lately so mind not been on here at all. Upside is daughter got her A-level results and all is well. Have u looked at telecoms i have GBO and PINN ( both doing okish) its difficult to know what the nxt fashionable idea will be. ATB. Barrers
Barrers where are you .Sitting well with your Hansteens looking forward to your first divi in the autumn Very solid at the moment I want a tip for long term (SIPP) im weighted too much in the property sector and motor trade which i have a little knowledge just sold some Home Retail as they always make me nervous so looking for a different sector quite fancied Bloomsbury(e-books) but their price has already motored Any ideas
Don't think this lot are that bothered rentals are going balisitic where i live so i expect they are not fussed about share sales. I pulled from this lot a while back and put in to tech shares good move by all accounts looking at todays charts. The rest of my pf is limping along on one leg ( property side okish!) cheers Barrers
Tell you what Barrers this share operates in a bubble.Come wind.rain or shine nothing moves.You wait till the time passes in 2013 when the directors are\ able to dump some shares then will see some action I can envisage the domestic scene at Wincos home.The missus if shes still around spending like Viv Nicholson and Winco itching for the day he can ejector sheet his shares and get his hands on an old spifire.Loop the Loop
Tell you what Barrers whats all that red share selling not you is it Good to see the resi shares moving up today alongsid e general market maybe the banking share boys think property comanies are probably the best bet to lay their money Bought some more Hansteen I just love them and good to see Redrow coming back up sold some TW ;last week at 48p + and invested proceeds in your old chums Telford Barrers Hansteen will perform like this 2013 96p 2014 189p 2015 350p All the institutional money is looking to be placed at the moment in industrial property get some in
Flatlining might of been the best option after last weeks devastation, reckon Mrs B went bargain hunting and loaded up on plenty what a gal. Lol.
Barrers thought id swing in for a looksy here to see if there is any banter None whatsoever by the looks of it I tell you what Barrers Biggles doesnt look too bad in the light of whats going on elsehwere all my housing shares are firmly in revers e throttle and most of my portfolio is being straffed The undercarriage of l & g as a safebet look as if its dropping bombs must still stick with Plan a Wonder if Mrs Biggles has spent all her folding yet
share not really worth anymore than any entry point so after last weeks conflab with FD decided to bail out of this very unexciting share.
Lol my sentiments exactly, dont forget if you go to trim up your handlebar moustache and polish those boots til you can see your face in em! Ha!