Builder leads the way with big rise in profits

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LETTINGS agency Belvoir plans to float on the stock market to take advantage of a boom in home rental.

The group, which has 142 offices including sites in Doncaster, Sheffield, Harrogate, Leeds and Skipton, announced plans to float on the Alternative Investment Market, the junior stock market.

The Grantham, Lincolnshire-based group, plans to raise £6m-£8m, including £3m of new money.

Belvoir operates through a franchise model and plans to grow to 200 sites by 2016.

Founded in 1995, it has been profitable for the past five years.