Belvoir announce an interim dividend of 4.0p per share

DividendMax Ltd.

Belvoir announce an interim dividend of 4.0p per share

Given the strong financial performance of the Group in H1, the Belvoir Board is to announce an increased interim dividend of 4.0p (H1 2020: 3.4p) payable to shareholders on 29 October 2021 based upon the register on 17 September 2021. The ex-dividend date will be 16 September 2021. 

Other financial highlights include:

H1 results are significantly ahead of management's expectations as at the start of the year 

41% increase in revenue to £13.8m (H1 2020: £9.8m), of which 33% related to the underlying business and 8% to the acquired Nicholas Humphreys network

26% increase in Management Service Fees (MSF) to £5.2m (H1 2020: £4.2m)

51% increase in Financial Services revenue to £6.4m (H1 2020: £4.3m) 

Gross profit split of 56% lettings: 21% sales: 18% financial services: 5% other (H1 2020: 62%, 15%, 18%, 5%) reflects the stronger sales market in H1 2021 compared to H1 2020

51% increase in profit before tax to £4.8m (H1 2020: £3.2m) of which 42% arose from the underlying business and 9% from the acquired Nicholas Humphreys network

36% increase in basic earnings per share to 9.9p (2020: 7.3p), having reflected the impact of the 2023 corporation tax increase on deferred tax

Highly cash generative with 119% (H1 2020: 113%) of operating profit converting into operating cash flow enabling strategic acquisitions to be funded from cash reserves 

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