Belvoir Group strengthens market position with acquisition plans

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  • Belvoir trading ahead of expectations
  • Belvoir price target upgraded to 359p after strong first half
  • Belvoir Group ‘significant activity on all parts of business’ reporting double digit revenue growth
Belvoir Group PLC

Quick facts: Belvoir Group PLC

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Belvoir Group PLC is a major UK property franchise group, supporting a network of 439 offices across six distinct brands, specialising in residential lettings, property sales and property-related financial services. We operate through two divisions: a network of property franchisees and a network of financial advisers, which combine to support our customers throughout their property journey.

We aim to extend our market share of the UK property sector through our model of operating multi-brand property franchise networks alongside other complementary property-related services. Our business model is built on 25 years of experience of operating a Central Office team providing support and guidance to a network of entrepreneurial individuals with the drive and local knowledge to deliver success.

Belvoir has a proven track record in delivering growth, even during the 2007 financial crash and the 2020 Covid-19 pandemic, built around a business underpinned by a strong bias towards lettings, providing a reliable recurring revenue stream.

03 Aug 2021

() said it is confident of achieving a strong trading performance for the full financial year after a very strong first half.

The UK property franchise and financial services group said revenue in the six months to the end of June was up 41% on the same period of 2020, when trading was hit by lockdown restrictions, and 42% higher on a like-for-like basis on the first half of (pre-pandemic) 2019.

The property division achieved revenue growth of 45% compared to two years earlier, of which 25% was organic growth with the rest coming from Belvoir’s investment in two additional franchise networks.

The financial services division’s revenues were 62% higher than in the first half of 2019.

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02 Jun 2021

() can significantly grow its financial services segment with the Nottingham Building Society partnership, according to a City broker.

Earlier on Wednesday, the estate agent announced plans to acquire the entire issued share capital of Nottingham Mortgage Services (NMS), a wholly-owned subsidiary of the Nottingham Building Society.

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02 Jun 2021

() announced it exchanged contracts to acquire the entire issued share capital of Nottingham Mortgage Services (NMS), a wholly-owned subsidiary of the Nottingham Building Society.

The deal is valued at GBP600,000 to be paid in cash from existing cash resources, the estate agents said, with completion scheduled for 31 July.

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03 Aug 2021

Finncap has raised its price target on () to 359p after first-half results and updating its valuation model for the latest market free cash flow yield.

Belvoir has a range of growth opportunities in a changing, large and fragmented market and has the model (franchise based) and proven management skill to continue to take advantage of them, says the broker.

These positives are still not reflected in the 2022E P/E of 14.7x and free cash flow yield of 6.7%, it added.

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03 Aug 2021

() () Dorian Gonsalves joins Proactive after reporting revenue in the six months to the end of June was up 41% on the same period of 2020 when trading was hit by lockdown restrictions.

After a strong first half, Gonsalves is confident of achieving a strong trading performance as all three of their main segments excel.

The property division achieved revenue growth of 45% compared to two years earlier, the financial services division’s revenues were 62% higher than in the first half of 2019 and management service fees (MSF) from residential sales doubled year-on-year.

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Belvoir Group ‘significant activity on all parts of business’ reporting…

Belvoir Group PLC (AIM:BLV) (AIM:BLV) Dorian Gonsalves joins Proactive after reporting revenue in the six months to the end of June was up 41% on the same period of 2020 when trading was hit by lockdown restrictions.

After a strong first half, Gonsalves is confident of achieving a…

14 hours, 43 minutes ago

2 min read

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