Belvoir Group Plc have announced an interim dividend that has been increased by 25% to 5p (H1 2022: 4.0p) per share. This reflects the Board's confidence in the business model and strong ongoing cash generation.
Other financial highlights include:
3% increase in revenue to £15.9m (H1 2022: £15.4m)
4% increase in Management Service Fees (MSF), the main revenue stream from franchisees, to £5.5m (H1 2022: £5.3m) with lettings up 8% and sales down 9%
11% increase in Financial Services revenue to £8.6m (H1 2022: £7.7m)
Gross profit split of 58% lettings: 15% sales: 21% financial services: 6% other (H1 2022: 60%, 17%, 19%, 4%) continuing to demonstrate a strong contribution from recurring lettings income
Administrative costs down 7% to £5.0m (H1 2022: £5.4m) mainly resulting from the net impact of changes in the number of corporate-owned offices and acquisitions
10% increase in profit before tax to £4.4m (H1 2022: £4.0m)
Basic earnings per share up 3% to 9.0p (2022: 8.7p)
