City briefs: Yü Group; Bevloir Group
Yü Group, the Nottingham-based utilities suppier to businesses, has reported a “good” start to the year.
Average monthly bookings for the four months to 30 April 2021 are £7.2m, representing an increase of 26% compared to the same period in 2020.
Bobby Kalar, chief executive officer, said: “I am pleased to report a strong start to the year, with Group performance delivering in line with expectations. Positive momentum continues as we see improved booked revenue in the first four months of 2021 compared to the same period last year.
“Our strategy is working well and as such the Board is confident that the business is on track to deliver its operational targets and to report profitable growth in FY2021.”
Grantham-based Belvoir Group says growth for the four months to April 30 has been “exceptionally strong” and ahead of management’s expectations.
The firm said it has not seen activity in the residential property market at this level since 2007.
Dorian Gonsalves, CEO of Belvoir Group, said: “Even after a busy start to the year for completions, pipelines of agreed house sales are still almost double those of this time last year.
“Our investment in financial services has achieved more than we had hoped, with this division now becoming an important additional strand in our growth strategy. With much of our financial services business drawn from outside of our property franchise network, which currently only accounts for around 7% of our mortgage business, there is scope for much further growth both from within our franchise networks and from developing third party lead sources.
“The group continues to identify earnings accretive acquisition opportunities as evidenced by our recent acquisition of the Nicholas Humphreys franchise network which added a further 21 offices to our property division. Meanwhile, our financial adviser network now stands at 214 and we are confident of achieving our target of 250 by the end of 2021.”
