In a positive 10-month update Belvoir has detailed trading is ahead of its pre-COVID expectations. Gross profit is up +10% in the Property division and +11% in Financial Services. Overheads are now significantly below the original budget and management has decided to reimburse staff for salary sacrifices earlier in the year and repay the Government in full for COVID furlough monies and grants. Taking all this into account, we have upgraded our FY 2020E EPS by +4%. A further catch-up dividend of ....
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Belvoir Group - Comfortably ahead
- Published:
02 Dec 2020 -
Author:
Guy Hewett -
Pages:
4
In a positive 10-month update Belvoir has detailed trading is ahead of its pre-COVID expectations. Gross profit is up +10% in the Property division and +11% in Financial Services. Overheads are now significantly below the original budget and management has decided to reimburse staff for salary sacrifices earlier in the year and repay the Government in full for COVID furlough monies and grants. Taking all this into account, we have upgraded our FY 2020E EPS by +4%. A further catch-up dividend of ....