Belvoir Group PLC (AIM:BLV) chief executive Dorian Gonsalves speaks to Thomas Warner from Proactive after the nationwide property franchise group released its interim results for the six months to 30 June 2023. Gonsalves gives an overview of the results, noting that the group's share price has rise by 29% since its last report in March and that its strong H1 2023 performance has prompted a decision to raise the dividend by 25%.
Gonsalves attributes part of the group's success to its franchise model, emphasising the self-employed aspect, which is proving resilient in a challenging market. Lettings, which account for 60% of gross profit, performed exceptionally well. While the estate agency sector saw a 9% decline, the overall market dropped by nearly 20%. Financial services, driven by acquisitions, showed growth.
He expects investors tuning into a presentation scheduled for 16:30 BST on 4 September to inquire about the lettings side of the business, given rising rents, as well the outlook for the wider housing market.
Proactive UK Ltd
+44 20 7989 0813
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Belvoir Group PLC