Financial highlights

Continued delivery of growth and strong results


Operational highlights

  • Acquisition of Northwood GB Limited, with 87 outlets, the largest remaining independent franchised lettings network
  • Number of outlets increased by 90 (42%) to 302 (2015: 212), operating across four brands
  • Recruitment of 12 (2015: 11) new franchise owners into eight new and six existing territories
  • The Group now manages 55,756 (2015: 37,000) properties
  • Belvoir won the gold award for “Lettings Franchise of the Year” for the sixth time in seven years

Financial highlights

  • Group revenue increased by 43% to £9.9m (2015: £6.9m)
  • Growth in management service fee (MSF) of 59% to £6.4m (2015: £4.0m)
  • Strong lettings bias reflected in lettings to sales ratio of 76:24 (2015: 77:23)
  • Year-end bank balance of £1.6m (2015: £2.7m)
  • Final dividend recommended of 3.4p (2015: 3.4p)


Key performance indicators

The Group uses a number of key financial and non-financial performance indicators to measure performance.


The key non-financial indicators are as follows:

  • no. of outlets;
  • managed properties; and
  • outlets offering property sales.