 rose over 4 percent in early trading on Tuesday, after a strong performance during the first half of 2017.){kind=link}
Shares in lettings agency Belvoir (LON:BLV) rose over 4 percent in early trading on Tuesday, after a strong performance during the first half of 2017.
The company saw group revenue rise by 15 percent to £4,921,000, boosted by a 47 percent increase in Management Service Fees (MSF) to £3,796,000. The lettings agency also saw a 62 percent increase in profit before tax to £1,731,000.
Basic earnings per share hit 4.1 pence, almost doubling its figure for 2016, and adjusted earnings per share came in at 5.0 pence.
Belvoir incorporated seven new franchise owners into the Group, within two new and five existing territories. The company also confirmed the acquisition of Brook Financial Services Ltd on 12 July 2017 to provide mortgage, insurance and other financial services to the Belvoir.
Chief Executive Officer Dorian Gonsalves said the group had been “focused on meeting our franchisees entrepreneurial growth ambitions and putting them in the very best possible position to maximise their market share within their territory.”
“Our franchisees have embraced the opportunity to develop their business under our Assisted Acquisitions programme, many of them doubling the size of their business overnight, and from offering additional services such as property sales and financial services. The acquisition of Brook in July will provide further opportunity for growth at both the franchisee and franchisor level,” he concluded.
Shares in Belvoir are currently up 3.33 percent at 108.50 (0931GMT).