FINANCE: Cluttons has posted a 36% hike in pretax profit on the back of an 11% sales rise.
The company recorded a £41.2m revenue for the year to 31 March 2014 – up 11% on the previous year. Pretax profit also increased to £10.9m.
During the same period the group trimmed its net debt to £660,000 from £1.9m.
Sales were boosted in the financial year by contract wins including being appointed to manage the Diocese of London’s portfolio of 160 properties held for investment.
Overseas, the company has also been involved in big projects. So far in the current financial year to March 2014 it has worked on Middle Eastern projects such as the launch of mixed-use development Tilal City in Sharjah.
John Wood, managing partner at Cluttons, said: “Our success is enabling us to win larger mandates in the UK and internationally as well as helping us to attract a high calibre of new people.”
Bill Siegle, senior partner at Cluttons, added: “Cluttons has always been a forward-thinking firm and we will continue to invest in our future as we enter our 250th anniversary year in 2015.”
The firm is now planning more UK and international expansion through new branches and hires.
