Belvoir Lettings, the Grantham-based property franchise giant, has reported record results for 2018.

The firm says revenue increased by 21% to £13.7m last year, while profit before tax was up from £3.9m to £5.5m.

During the year, Belvoir acquired MAB Glos, a network of 87 financial services advisers operating through 64 offices.

Dorian Gonsalves, chief executive of Belvoir Lettings, said: “Belvoir is uniquely positioned within the property sector, benefiting from the agility of a franchise business model compared with the larger corporate players, whilst providing our networks with the Central Office systems and support, not available to the smaller independent agents.

“Our value creating strategy has enabled us to consistently deliver profit growth for over two decades and achieve a threefold increase in profit before tax since 2014.

“Belvoir is a strongly cash generative business with revenues underpinned by the recurring ‘annuity-style’ lettings income stream coupled with the diversification into complementary property-related services, which will enable the Group to overcome changes and outperform in the sector over the coming year.”

Source: TheBusinessDesk.com