Carter Jonas has posted a rise in revenue and profit despite what its top team called “challenging” conditions for real estate deals.
The agency’s latest accounts, published last week and covering the year to 30 April 2024, showed revenue edging up by 1.6% year-on-year to £85.7m. Profit before tax for the year stood at £15.3m, a rise of 4%.
“Trading conditions have been challenging this year with a number of our markets remaining subdued as clients wait for interest rates to start to reduce before transacting,” said chief executive Richard Bruce in a report dated 20 November 2024. “In light of this we have maintained a strong focus on cost reduction this year to ensure our cost base remained aligned with our fee income.”
Cost of sales fell by almost 30% to £472,987, while administrative expenses rose slightly to £69.9m.
Bruce added: “We will continue to improve and enhance our existing service offering in line with our 2025 plan, coupled with targeted expansion in specific locations and sectors as suitable opportunities arise.”
He said the firm is now mapping out its strategy for the next five years. “This will focus on strengthening our core business activities and increasing the profitability of the business through further investment in technology and a continued focus on delivering a high quality service to our clients.”
The firm is hunting for new offices across its network to improve its carbon footprint.
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