Belvoir’s chief executive haas taken to Twitter to hail his company’s latest results as “superb” - with sales for the franchise agency over the first half of 2021 showing a 78 per cent growth.
Dorian Gonsalves, CEO of Blevoir, says: “The Group achieved substantial revenue growth across the three markets in which it operates with lettings up 21 per cent, property sales up 78 per cent and financial services up 51 per cent.
“… The Group capitalised on the opportunities arising from the buoyant housing market, and demonstrated that the success of Belvoir's growth strategy has been unaffected by the pandemic.
"Further strategic progress has been achieved early in H2 as our alliance with The Nottingham Building Society was strengthened further through the acquisition of The Nottingham's mortgage arm, Nottingham Mortgage Services Limited.”
In addition to the Nottingham acquisition, Belvoir also snapped up the 20-office Nicholas Humphreys lettings and estate agency network for £4.4m in March.
The company has also reported a 26 per cent increase in Management Service Fees - the sums paid by franchisees to the company - and a 51 per cent increase in Financial Services revenue to £6.4m.
Its gross profit split shows how lettings are still the lifeblood of the agency - 56 per cent came from lettings: 21 per cent from sales: 18 per cent from financial services: and five per cent from other sources.