Belvoir Group Plc Board has announced an 18% increase in their total dividend up to 8.5p (2020: 7.2p) per share. There is a final dividend for 2021 of 4.5p per share payable on 30 May 2022.
Other financial highlights include:
• Group revenue increased by 37% to £29.6m (2020: £21.7m), with 12% attributable to acquired businesses and 25% to like-for-like growth
• Management service fees ('MSF'), the key underlying return from franchisees, grew by 18% to £10.7m (2020: £9.1m)
• 39% increase in profit before tax to £9.3m (2020: £6.7m), marking 25 years of consecutive profit growth
• Continued strong lettings bias reflected in gross profit ratio of 56% lettings: 19% sales: 20% financial services: 5% other (2020: 60%:17%:19%:4%)
• Year-end cash of £7.4m (2020: £5.9m)
• Net debt significantly reduced by 65% to £1.3m (2020: £3.7m) despite deploying £4.4m on two corporate acquisitions
