Record Year for Belvoir

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Belvior is one of the world's largest franchise networks of lettings and estate agencies

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01/05/2018 16:00 | Estate Agency & Property

Belvoir has announced that the last financial year was one that brought huge success as its revenue jumped up to a record level.

Last year was record breaking for lettings group, Belvoir. It has recently confirmed that its revenue reached a record high at £11.2million for 2017 (up until December). Thats up from £9.9million on 2016. Its pre-tax profits have increased to £3.9million from £2.4million in 2016.

Belvoir attributes its growth in part to its acquisitions of Northwood in 2016 and Brook Financial Services in 2017.

The firm has seen growth in numerous areas of its business. In particular, its management service has grown from 55,756 properties to 58,020, increasing fees from £6.4million to £7.9million thats a 23% growth.

This boost in revenue comes after six of its corporate offices were franchised, making the financial success particularly impressive.

Belvoir chief executive, Dorian Gonsalves, feels confident following the successful year. He said, we are pleased to report another year of strong growth for the group, in terms of both revenues and profitability Our franchisees are incredibly motivated to find ways to grow and develop their business and this dynamism, combined with local property expertise, underpins our continued successful growth.

He also pointed out that adjusted profit was up by 39% for the year, which he owes to the continued growth of its franchises.

As we reach the middle of 2018, Belvoir has announced that its aims for the year are to further integrate recent acquisitions into the group and diversify its offering through other property-related services.

Belvoir already has 170 offices under its brand in the UK, and the number is ever growing. It is an award-winning franchise, and each business is independently owned with support from the headquarters to get the business tools and staff training they need.

The lettings group was founded in 1995 on principles of customer services, professionalism and specialism that its founder, Mike Goddard, brought with him from his career in the RAF. He also has experience with the British Franchise Association (bfa), consolidating the business strategys strength.

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