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Belvoir Lettings beats forecasts as new franchise strategy begins

Mon, 04th Apr 2016 16:47

(ShareCast News) - Full year results from Belvoir Lettings beat expectations after a "pivotal" and transformational year in which it moved to a new multi-brand franchising strategy.During the year the company completed acquisition of the Newton Fallowell and Goodchilds franchised networks to add the new brands for its strategy.For the calendar year, group revenue rose 19% to £6.9m as management service fees swelled 25% to £4.0m and property sales jumped 60% to £1.4m.Profit before tax of £2.2m was up 25% over the prior year, with earnings per share increasing 16% to 6.5p.The solid earnings and increased year-end cash position of £2.7m left the board confident of keeping the total dividend steady at 6.8p.Chief executive Mike Goddard said the acquisitions substantially increased presence across the East and West Midlands respectively.As a result of these new networks and organic expansion into seven new Belvoir territories, he pointed to group coverage increasing 31% to 212 outlets, with resulting boosts to management service fees and profits."I am confident that the coming year will see the full impact of our successful multi-brand strategy as the new brands become further incorporated into the Group."Looking to the future I expect Belvoir to be at the forefront of further consolidation within the property franchising industry as the benefits of centralised franchising expertise and economies of scale become more attractive."The company said early signs for 2016 were positive, with a strong pipeline of potential franchise owners and an increased pipeline of potential acquisitions.Belvoir's franchisees were said to be beginning to reap the benefits of utilising property sales to not only increase their turnover but, more importantly, as a tool to fuel the underlying growth of their managed lettings portfolios, which in turn translates into MSF growth for the franchisor."With demand for rental properties increasing, a nationwide drive to increase housebuilding and a renewed interest in franchising, the key drivers behind our successful business model remain unchanged."House broker Cantor Fitzgerald said it felt Belvoir had become "significantly undervalued for a leading stock in its sector", forecasting £3.3m PBT and 8.4p EPS for 2016.

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2 Apr 2019 10:55

Acquisitions help to boost growth at Belvoir Lettings

(Sharecast News) - Property franchise group Belvoir Lettings announced a 21% improvement in group revenue in its preliminary results on Tuesday, to £13.7m.

2 Apr 2019 09:58

Belvoir Lettings Hikes 2018 Payout Amid Profit And Revenue Surge

LONDON (Alliance News) - Belvoir Lettings PLC hiked its 2018 dividend after saying Tuesday that profit and revenue rose in a year of "significant" growth for the letting agent 2018, 41%

31 Jan 2019 11:52

Belvoir Lettings Expects In Line Annual Profit Amid Revenue Growth

LONDON (Alliance News) - Property franchise Belvoir Lettings PLC said on Thursday it expects to see pretax profit for 2018 to be in line with expectations, amid double digit growth in said it both

31 Jan 2019 08:58

Belvoir Lettings updates on year of 'continued and encouraging' growth

(Sharecast News) - British property franchiser Belvoir Lettings reported a year of "continued and encouraging growth" on Thursday, with both revenues and profits moving ahead.

10 Jan 2019 14:50

Belvoir Lettings exceeds Assisted Acquisitions target for 2018

(Sharecast News) - Belvoir Lettings exceeded its 2018 target for 'Assisted Acquisitions' by its franchisees, it announced on Thursday, which it said was a core part of its growth strategy.

10 Jan 2019 12:05

Belvoir Lettings Beats Assisted Acquisitions Target In 2018

LONDON (Alliance News) - Belvoir Lettings PLC on Thursday said it exceeded its target for assisted acquisitions by franchisees in 2018.Belvoir operates a franchised network of high street a

27 Nov 2018 13:18

Belvoir Lettings Buys Unit Of Mortgage Advice Bureau For GBP4 Million

LONDON (Alliance News) - Property franchise Belvoir Lettings PLC said on Tuesday it has acquired MAB (Gloucester) Ltd, a subsidiary of AIM-listed Mortgage Advice Bureau (Holdings) PLC for GBP3.6 a

27 Nov 2018 09:44

Belvoir Lettings acquires Gloucestershire-based mortgage intermediary

(Sharecast News) - Britain's largest property franchise Belvoir Lettings has continued its growth strategy with the acquisition of Mortgage Advice Bureau's Gloucestershire-based subsidiary for £3.6m.

23 Oct 2018 09:22

OnTheMarket adds Belvoir Lettings to online portal

(Sharecast News) - Online property portal OnTheMarket revealed on Tuesday that it had reached an agreement with Belvoir Lettings to advertise the latter's UK residential sales and lettings properties at OnTheMarket.com.

11 Sep 2018 09:58

Belvoir Lettings Interim Earnings Rise, Declares Unchanged Dividend

LONDON (Alliance News) - Estate agent franchisor Belvoir Lettings PLC held its dividend Tuesday as profit and revenue both rose as it outperformed its market.For the six months ended June,

22 May 2018 16:13

UK Shareholder Meetings Calendar - Next 7 Days

Wednesday 23 MayBovis Homes GroupSt James's Place Keller GroupGamma Emerging

26 Mar 2018 15:51

Belvoir Lettings Non-Exec Leeming Leaves, Hires New Non-Executive

LONDON (Alliance News) - Property franchise Belvoir Lettings PLC said Monday that Non-Executive Director Michael Leeming will be leaving the company after five Stoop, who has

23 Jan 2017 09:09

Belvoir Expects To Offset Letting Fee Ban, Issues Shares At Premium (ALLISS)

24 Nov 2016 15:58

Infrastructure spending good for housebuilders, contractors, bad for letting agents

(ShareCast News) - Funding outlined in the Autumn Statement could be good for alternative housing providers, contractors, but potentially problematic for mainstream housebuilders, and bad for letting agents, according to broker Stockdale. In the mini-budget on Wednesday, Chancellor Philip Hammond sa

24 Nov 2016 09:55

Belvoir Lettings says it's too early to predict impact of no fees

(ShareCast News) - AIM-listed Belvoir Lettings said it could not predict the impact from not charging fees to tenants, as outlined in the Autumn Statement. On Wednesday, Chancellor Philip Hammond said there would be a ban on letting fees "as soon as possible", in a bid to help the 'just about managi

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