Results round-up

Full year results from Belvoir Lettings beat expectations after a "pivotal" and transformational year in which it moved to a new multi-brand franchising strategy.

During the year the company completed acquisition of the Newton Fallowell and Goodchilds franchised networks to add the new brands for its strategy.

For the calendar year, group revenue rose 19% to £6.9m as management service fees swelled 25% to £4.0m and property sales jumped 60% to £1.4m.

Profit before tax of £2.2m was up 25% over the prior year, with earnings per share increasing 16% to 6.5p.

The solid earnings and increased year-end cash position of £2.7m left the board confident of keeping the total dividend steady at 6.8p.

Christie Group, which provides professional business services to the leisure, retail and care sectors, grew sales 9% last year but said 2016 had started "quietly".

For calendar 2015, revenues grew to £63.7m and while broadly stable margins meant operating profit was slightly above flat at £3.8m, higher pension scheme costs saw pre-tax profits fall 6% to £3.16m.

Thanks to lower taxation, earnings per share increased 4% to 9.73p.

Directors recommended a flat final dividend of 1.5p per share, lifting the total payout 11% to 2.50p compared to last year.
Broker Panmure Gordon said the 2016 softness led it to reduce PBT forecasts by circa 7% to £4.2m.