Revenue up 12pc for growing Belvoir
The Belvoir Group, which includes estate agencies in the Black Country, Shropshire and Staffordshire, saw a 12 per cent rise in revenue to £15.4 million in the first six months of 2022.
One per cent was down to growth in the underlying business and 11 per cent to corporate acquisitions in 2021 and 2022.
The group's pre-tax profit declined from £4.8m a year before to £4m, but the interim dividend remained at 4p per share.
Belvoir bought The TIME Group, a network of 63 financial services advisers, for £3.8m on May 203 and Mr and Mrs Clarke, a specialist concierge-style personal estate agency business operating through 10 partners £50,000 on March 11.
Chief executive Dorian Gonsalves said: "I am delighted to report that our strong lettings base, investment in further franchise networks and diversification into financial services have all helped to mitigate the correction in the level of property sales transactions after the exceptional year for the housing market in 2021.
"During the first half of 2022 the board continued to pursue its growth strategy to strengthen the group's service offering."
He added: "The group's investment in businesses to expand both the property and the financial services divisions, and the strong pipelines of house sales and related mortgages at the start of H2, underpin the board's confidence of achieving managements' expectations for the full financial year."
