Belvoir Group PLC - Lincolnshire, England-based property franchise group - Says on Thursday that trading continues to grow in 2020, as revenue and operating profit in first half were "comfortably ahead of 2019", with net profit "in line with management's pre-Covid expectations set at the start of the year". Belvoir reports a surge in activity amid pent-up demand as restrictions on the housing sector were eased in May. As a result, the firm recorded "record-breaking month" in June with network revenue up 12% year-on-year, and its letting business up 17%, pushing past pre-Covid figures. Belvoir said it still will not propose a 2019 final dividend as it is unsure about the effect of "prevailing circumstances" on the UK housing market going forward.
Belvoir is slated to release interim results on September 7.
Current stock price: 141.61 pence
Year-to-date change: flat
By Neetika Kurup; neetikakurup@alliancenews.com
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