StockMarketWire.com - Property franchise Belvoir said half-yearly adjusted profit rose by nearly a quarter, driven by growth in lettings, property sales and financial services.

For the six months ended 30 June 2019, adjusted pre-tax profit rose 23% to £3.0m from £2.4m and revenue jumped 48% to £9.0m.

Management service fees climbed 5% to £4.2m from a year earlier and the financial services division revenue jumped to £4.0m from £1.3m a year earlier.

The company said 300 property franchise offices were opened in four new territories and four were merged into adjacent offices.

The interim dividend was maintained at 3.4p a share.

'Trading across lettings, sales and financial services continues to outperform their respective markets and deliver strong results for the group,' said Dorian Gonsalves, Chief Executive Officer of Belvoir Group.

'I am pleased to further report that Belvoir has achieved a promising start to the second half, and as such the Company is on track to meet management expectations for the full year.'

At 9:43am: [LON:BLV] Belvoir Lettings PLC share price was +5.5p at 116p



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