Commercial property consultant Ryden has reported a 7% increase in turnover to £11.3m in the 12 months to 30 April 2013.
The Scottish agent’s annual accounts also showed an 8% increase in profit in the first results delivered by managing partner Bill Duguid, who took over this summer.
Ryden’s balance sheet showed £2.9m in cash and no external debt at the year end.
Duguid said the firm’s strong performance was driven by the transactional side of the business.
He said: “Our investment fees rose by 25% and our agency fees by 18%, producing a very significant 20% overall rise, fuelling the firm’s growth.”
Aberdeen once again contributed strongly to the firm’s results, accounting for one-third of total fee income and reporting its strongest year with 15% growth.
Glasgow also performed well with 8% growth and generating 32% of fee income. Edinburgh and Leeds accounted for 22% and 9% of fee income respectively, with the remaining 3% from its offices in Dundee and Inverness.
Duguid said: “The last 12 months have seen a steady growth in our business and this is down to the hard work and determination of our talented teams to deliver results for our clients.”
Independent research by EGi showed that the firm had handled double the number of deals in Scotland of its closest competitor.
The firm was also behind some of the most significant transactions across the country including Glasgow’s largest office deal in three years at the Capella building ; the sale of Aberdeen city council’s former headquarters at St Nicholas House and representing Schuh on the acquisition of its new 245,000 sq ft distribution centre at Bathgate .
Reinforcing the strength of the business, Ryden was also named Property Adviser of the Year (Scotland) 2013 by Estates Gazette.
Looking ahead, Duguid added: “There are more positive economic indicators now than in recent years, and we look forward to capitalising on the improving market conditions and continuing to increase transactional activity.
“We have a new three-year business plan for growth and will continue to proactively search for new business opportunities.”
bridget.o’connell@estatesgazette.com
