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The share price of AIM-listed estate agent Belvoir (LON:BLV) has risen 5.38% to 116.44p (as of 11:20 BST) as it posted a 48% improvement in revenues for the six months ended 30th June. Adjusted profits before tax were up by 23%, driven by organic growth and the acquisition of MAB Glos.
CEO Dorian Gonsalves said: “I am delighted to report another half year of further strategic and trading progress for the Group, with our diversification into financial services building on the growth of the underlying business. Trading across lettings, sales and financial services continues to outperform their respective markets and deliver strong results for the Group.
“The further take-up of property sales, financial services and franchisee-led acquisitions demonstrates the entrepreneurial spirit of our franchisees in the face of even more challenging market conditions.
“I am pleased to further report that Belvoir has achieved a promising start to the second half, and as such the Company is on track to meet management expectations for the full year“.