LONDON (Alliance News) - Belvoir Lettings PLC on Monday said progress has been made over the course of 2015 in recruiting new franchisees, with the total number on its books set to rise 31% for the year.
Belvoir said it will have 213 offices across the UK, including all franchisees, up from 162 at the end of December 2014. This was partly driven by the acquisitions of Newton Fallowell and Goodchilds, which added 45 outlets between them.
Stripping out those acquisitions, the group had added only one new Belvoir franchisee in the first half of 2015, due to an anticipated slowdown in the lead-up to the UK's General Election in May. For the second half, in line with its expectations, conditions strengthened, and it added another six.
Shares in Belvoir were up 2.4% to 118.80 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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