25 years of unbroken profit growth for Belvoir
Grantham-based lettings and estate agency franchise Belvoir Group has announced 25 years of unbroken profit growth, with profit before tax up 39% at £9.3m.
In addition, it says its revenues were at a record level of £29.6m from £21.7m in 2020 accompanied by growth in all three of Belvoir’s markets; lettings, sales and financial services.
A post-period end acquisition of Mr and Mrs Clarke, adding to two other acquisitions of Nicholas Humphreys and Nottingham Mortgage Services reveals the groups’ desire to invest in similar businesses to expand the franchise and financial services networks.
There will be an 18% increase in total dividend up to 8.5p.
CEO Dorian Gonsalves said: “2021 was the busiest year for our sector in recent times with residential property sales transactions at their highest level since 2007, which boosted both our growing estate agency and financial services businesses. We worked closely with our property franchisees and financial services advisers to ensure that they were best placed to respond to the strong market conditions, which drove significant organic growth of 25%.
“We remain confident that we will continue to perform well relative to the market as a whole, and that our business model and growth strategy will continue to deliver enhanced value for all our stakeholders.”