Updates

Belvoir

November 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Property franchise Belvoir’s first half results were in line with raised forecasts with eps up 35% to 9.3p on sales that rose 41% (33% like-for-like) to £13.8m.The company makes its money by charging franchisees a small upfront joining fee plus royalties of 11-12% of their sales, known as the management service fee (MSF). In the lettings business, MSF increased 13% to £4m while residential sales rose 100% to £1.2m (14% gross profit), helped by the stamp duty cuts. Six new franchise owners joined and two existing ones adding a second office while the acquisition of Nicholas Humphreys (£4.1m) added a further 17 franchised and three corporate-owned offices, taking the total to 366.Financial services ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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