3 Feb 2015 07:00
For Immediate release 3 February 2015
BELVOIR LETTINGS PLC
(the "Company" or "Belvoir")
Pre close trading update
Belvoir Lettings PLC (AIM:BLV), one of the UK's largest lettings franchises, announces the following trading update ahead of its Final Results for the year to 31 December 2014, which will be released on 15 April 2015.
Trading in the second half of the year was in line with the Board's expectations. The Company delivered successfully on its strategy of driving network growth through the financial support of franchisee acquisitions, the launch of property sales and the introduction of new Belvoir brand marketing tools. In addition to these initiatives, the Company has seen strong underlying growth in network performance. As a result, the underlying profit before tax for the year is expected to be in line with market expectations.
Belvoir will announce its preliminary results for the year ending 31 December 2014 on 15 April 2015. An analyst briefing will be held at 10.00am on that day at the offices of Buchanan, 107 Cheapside, EC2V 6DN.
Mike Goddard, Chairman and CEO of Belvoir commented:
"Looking to 2015, Belvoir expects to continue strong organic growth in addition to the recruitment of new franchises and centrally-supported franchise acquisitions. Whilst this is likely to be against a backdrop of a more cautious property market, particularly property sales, Belvoir's key strength continues to lie within the resilient lettings market. As a result the Board anticipates 2015 to be another year of earnings growth."
For further details:
Belvoir Lettings PLC Mike Goddard, Chairman and CEO Louise George, Finance Director |
01476 584900 investorrelations@belvoirlettings.com |
Cantor Fitzgerald Europe Rick Thompson, David Foreman, Corporate Finance David Banks, Corporate Broking |
0207 894 7000 |
Buchanan Charles Ryland, Gabriella Clinkard, Robbie Ceiriog-Hughes |
0207 466 5000 |
About Belvoir Lettings PLC
Belvoir was founded in February 1995 by Mike and Stephanie Goddard. Its Central Office is in Grantham, Lincolnshire.
Belvoir is recognised as one of the largest specialist lettings agency franchises in the UK, with 160 offices nationwide. Belvoir was officially awarded the Best Lettings Agency Franchise Gold Award at the 2014, 2013, 2012 and 2010 Lettings Agency of the Year Awards in association with The Sunday Times & The Times. Belvoir also won the Silver Award in 2011.
Belvoir was voted Best Large Lettings Chain at the Estate & Letting Agent Awards (ESTAs) 2013, and won Silver in 2014 when Belvoir also won the Franchisor of the Year Gold Award at The Negotiator Awards. Belvoir is a founder member of the SAFE Agent Kitemark scheme, which is fully supported by NALS. SAFE Agent promotes client money protection (CMP) and provides consumers with a clear message on those agents they should do business with.
Belvoir successfully listed on the AIM market of the London Stock Exchange on 21 February 2012.