12:30PM Property consultant's 2005/06 results show profits rise by 28% to 拢13.7m
European property consultant Drivers Jonas has reported a gross turnover of 拢67.4m, an increase of 36% on 2004/2005.
The year-end results for the year to 31 May 2006, announced today, show a 28% improvement in pre-tax and pre-bonus profits to 拢13.7m.
The firm鈥檚 managing partner, Nick Shepherd said: 鈥淲e expect our European practice, currently base in Paris and Frankfurt, will continue to grow at an above trend rate of 30% pa as more and more international investors seek reliable and independent investment and market advice in mainland Europe.鈥
He added: 鈥淪ince 1 June this year we have valued more than 鈧1.4bn of investment property.鈥
Furthermore, a 30% revenue growth was reported in the firm鈥檚 London agency business, and building surveying and PM practices.
Key schemes this year included a deal with the government of Northern Ireland to select a PFI partner for the 拢100m outsourcing project. The Royal Shakespeare Company also appointed the firm for a 拢100m project management theatre development.
Additionally, Drivers Jonas has been appointed sole adviser and asset manager to the new property investment fund Rynda en Premier which is targeting to invest 鈧400m in the French property market over the next couple of years.
Shepherd said the firm will announce the opening of a new office in mainland Europe before the end of the year.
Source
QS News