GLOBAL real estate agency Knight Frank has delivered a profit before tax of £101.9m ($AU156.5 million), up 10% from £92.3 million ($AU141.7 million) in 2009.
The result was underpinned by turnover growth of 7% to £308.4 million ($AU473.6 million).
“Our global strategy remains focused on organic growth in key markets with the best people. This year we have opened offices in Dubai, South Africa, Austria and Switzerland and expanded our network in China, Australia, India and the UK,” Chairman and senior partner Nick Thomlinson said.
“We remain cautious about the outlook for the year ahead, considering the ongoing economic uncertainty around the world, and have strengthened our balance sheet by retaining profits for investment in the business,” he added.
Knight Frank Australia executive chairman Stephen Ellis said there was a high level of activity in the Australian market last year with a number of sales and leasing transactions taking place.
“Last year we recruited a number of key personnel in investment, office and industrial services, particularly on the east coast. We also recruited a six person project management team in Sydney, as we continue to invest in accordance with our three year plan.
“Whilst there is still some uncertainty in the financial markets, transactions will continue to happen and we are predicting another strong year,” Ellis predicted.
Australian Property Journal
