While the numbers were helped by a very buoyant housing market, this does not detract from the strategic progress the group continues to make said the broker.
The group’s growth strategy has supported 24 years of unbroken profit growth and while 2022 will likely see cooler market conditions, there are increasing signs it will be a gradual return to more normal trading.
The acquisition of Nicholas Humphreys and The Nottingham Building Society’s mortgage services business meanwhile provide excellent growth prospects, finnCap believes.
Shares have done well recently as Belvoir came through the pandemic and has quickly taken advantage of opportunities that have arisen.
A 3.1% dividend yield and a 6.9% free cash flow yield, in particular, underline the appeal.