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Belvoir Lettings H1 revenue rises due to management fees

Wed, 10th Sep 2014 15:47

UK housing agency Belvoir Lettings saw revenues rise 32%, with management waxing optimistic on the outlook for future demand.UK housing agency Belvoir Lettings saw revenues rise 32%, with management waxing optimistic on the outlook for future demand.Sales for the first six months of the year increased by 32% to £3.26m, driven by growth in management fees.Profits before tax increased 5.6% to £773m.The group said its management service fees were up 11% on the comparable period. Its franchisees and acquisitions programme also supported the company’s growth.However, earning per share decreased to 2.5p from last year’s 2.7p, although cash and equivalents rose significantly to £2.2m compared to £1.7m in the same period in 2013.Chief executive Mike Goddard said: “We are delighted to announce that the estate agency trial was successful and we look forward to updating the market further as we roll this out across our network.“These strategic developments plus the encouraging trend in the market for private rented properties and buoyancy in the sales market underpin the board's confidence in the coming years as Belvoir strengthens its presence across the UK."Belvoir said it expects to see demand for private rental sector housing to continue to rise, as the UK’s increasing population is putting pressure on the property market just as housing supply fails to keep pace.Shares were up 2.32% to 129.95p on Wednesday at 15:20.

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29 Nov 2013 14:16

Belvoir Lettings announces UK portfolio acquisition

Shares in Belvoir Lettings climbed after the company announced the acquisition of a "significant" lettings portfolio in the Cheshire and Merseyside regions of the UK. The deal is a joint acquisition by the group's franchises Belvoir Warrington and St Helens and is expected to be earnings enhancing

29 Nov 2013 09:22

Belvoir Lettings Acquires Lettings Portfolio In Cheshire And Merseyside

22 Nov 2013 08:48

Belvoir Lettings Raises GBP5.35 Million In Placing For Expansion

6 Sep 2013 15:59

DIRECTORS DEALINGS - Belvoir Lettings Executives Sell Shares

5 Sep 2013 10:47

Belvoir launches new pilot scheme

Belvoir Letting has launched a new estate agency sales pilot trialling residential property sales for one year. The trial initially includes ten offices from a cross-section of Belvoir outlets across England, Scotland, Wales and Northern Ireland and will run an estate agency offering alongside the

5 Sep 2013 10:25

Belvoir Lettings Profits Up; Launches New Property Sales Pilot

20 May 2013 12:04

Belvoir Lettings acquires four lettings agencies

Belvoir Lettings has acquired four lettings agencies based in England's Basingstoke and Andover. The UK letting company purchased Claygold, which trades as Redwoods from one branch in Andover and three in Basingstoke. Redwoods letting business will be sold on to the two existing Belvoir franchise

19 Apr 2013 08:47

Friday broker round-up UPDATE

African Barrick Gold: JP Morgan cuts target price from 290p to 200p, while leaving its underweight rating rating unchanged. Fox Davies reduces target price from 353p to 315p and maintains a hold rating. Westhouse Securities lowers target price from 195p to 180p retaining a neutral rating. Belvoir L

5 Apr 2013 16:55

Belvoir Lettings Chairman sells shares to satisfy institutional demand

Belvoir Lettings, the UK lettings specialist which listed on the AIM market in February last year, announced on Friday that its Executive Chairman and founder had sold a quarter of a million shares in the group in order to help satisfy 'significant institutional demand'. The news comes just a week

6 Mar 2013 07:03

Wednesday broker round-up UPDATE

Advanced Medical Solutions: Investec takes target price from 68p to 74p and maintains a buy recommendation. Aggreko: Citigroup reduces target price from 2550p to 2100p, while keeping a buy rating. Ashtead Group: Citigroup raises target price from 590p to 660p leaving its buy recommendation unalter

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