27th May 2021 14:30
Belvoir Group PLC - Lincolnshire, England-based property franchise group - Trading in the four months ended April tops management expectations. Belvoir notes "substantial revenue growth" across the board. "We have not seen activity in the residential property market at this level since early 2007," Chief Executive Officer Dorian Gonsalves says. Management service fees up 22% from year earlier amid stamp duty holiday extension and "pent-up demand" in housing sector following Covid-19 lockdowns. Belvoir adds: "Additionally, the financial services division continues to achieve substantial growth with net income up 24% in part arising from an increase in Belvoir's adviser network."
Current stock price: 245.00 pence, up 5.2% on Thursday
Year-to-date change: up 62%
By Eric Cunha; [email protected]
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