Good morning,

Paul Scott has already reported on Zytronic (LON:ZYT) so I will just give my quick mention to Belvoir Lettings (LON:BLV), the residential lettings franchisor who reported interim results this morning.

http://www.investegate.co.uk/belvoir-lettings-plc--blv-/rns/interim-results/201409100700042430R/


. Improved performance for the Group, delivering stable growth and development
· Revenue increased 32% to £3.26m (H1 2013: £2.47m) driven by a 11% increase in Management Service Fees (MSF) to £1.54m (H1 2013: £1.39m)
· Revenue arising from the chain of Estate Agents acquired in 2013 at £0.42m (H1 2013: £0.14m) representing 13% of total revenue
· Profit after tax up 9% at £0.61m (H1 2013: £0.56m) following a review of the recoverability of certain assets giving rise to a £205,000 adjustment in the period
. Interim dividend for the enlarged shareholding of 3.4p (H1 2013: 3.4p)


Belvoir trialled estate agency at some of its sites last year and is reporting success.

We are delighted to announce that the estate agency trial was successful and we look forward to updating the market further as we roll this out across our network.

Outlook:
Looking to the future we see the demand for private rental sector ("PRS") housing continuing to rise, driven by major socio-economic factors. In addition housing supply is failing to keep pace with the UK's increasing population putting further pressure on the PRS and the property sales market. Belvoir, therefore, is positioning itself to exploit the continuing expansion of the lettings market

Looks like we are on for a 5.4% yield for the year?

AIM Prospector gave the company a write-up in the September edition here:
http://issuu.com/aimprospector/docs/201409_issuu_ap/c/slsl6ay

Everyone have a great day.

David O'Hara
Editor, AIM Prospector

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