24th consecutive year of growth for estate agent

Estate agent Belvoir has recorded its 24th consecutive year of growth after posting a 20% increase in profits for the 2020.

The Grantham firm saw profits rise to £6.7m, while turnover also rose by 13% to £21.7m.

Belvoir has also confirmed the full repayment of the £260,000 Government Covid-19 financial support received under the Coronavirus Job Retention Scheme and small business grants.

Dorian Gonsalves, chief executive, said: “Our franchise model proved its resilience once again. The entrepreneurial spirit of our franchisees and advisers ensured that they made the most of the market opportunities as soon as the property sector opened up and started moving again. Through a combination of strong trading in H2 and a reduction in overheads as we entered the pandemic, the group was able to achieve a performance during 2020 that exceeded the board’s pre-Covid-19 expectations.”