Sales up at Belvoir Group
By Sarah Wood | 1st August 2022
Revenues at property and financial services group, Belvoir, were up 11 per cent for the first half of the year.
Sales in the six months to June 30 were up in all areas of the business, despite 2021 being an exceptionally strong year for the property sector.
The group, which has franchises in Gloucester and Cheltenham, saw an increase in revenues of three per cent for the property division.
Revenue from the financial service division was up 19 per cent, of which 12 per cent resulted from the July 2021 acquisition of Nottingham Mortgage Services and the May 2022 acquisition of Time Mortgages Experts.
Dorian Gonsalves, CEO of Belvoir Group, said: "Given the stamp duty holiday and the post-lockdown pent-up demand last year, 2021 was always going to be a hard act to follow for the property sector.
"However, the diversity of the group's income streams and the resilience of its franchise business model have enabled Belvoir to achieve underlying growth, with increased revenue from lettings and financial services mitigating the shortfall from property sales."
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