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 in the first year of ownership. "This is Belvoir's first joint acquisition between franchise holders and demonstrates franchisees ability to develop the Belvoir brand in their local areas as well as the company's aim to support the strengthening of local regional offices," said Chief Executive Dorian Gonsalves. "Belvoir continues to explore a number of exciting opportunities to expand our network which we expect to underpin the continued growth of the company."Shares rose 2.75% to 186.50p at 14:54 on Friday. RD