In a positive year-end update, Belvoir has detailed FY 2019 sales growth of +43% driven by +6% in the Property division and +148% in Financial Services. Given the twin challenges of the tenant fee ban and political and economic uncertainty around Brexit, we view this as a very strong result, evidencing the success and potential of the strategy. Cash flow has remained strong with net debt at December 2019 of £6.9m (our forecast £7.9m). We have upgraded our FY 2019 EPS by +5.5%, our
30 Jan 2020
Belvoir Group - Comfortably ahead
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Belvoir Group - Comfortably ahead
- Published:
30 Jan 2020 -
Author:
Guy Hewett -
Pages:
7
In a positive year-end update, Belvoir has detailed FY 2019 sales growth of +43% driven by +6% in the Property division and +148% in Financial Services. Given the twin challenges of the tenant fee ban and political and economic uncertainty around Brexit, we view this as a very strong result, evidencing the success and potential of the strategy. Cash flow has remained strong with net debt at December 2019 of £6.9m (our forecast £7.9m). We have upgraded our FY 2019 EPS by +5.5%, our