Debenham Tewson & Chinnocks has posted pre-tax profits of £1.9m in the year to October, up 98% on the previous year. Turnover improved by 9% to £30.3m.
Chairman Richard Lay said the results bore out a growing feeling of confidence in the marketplace. “The increase reflects a broad advance across the range of services we provide,” he added.
The company is bullish about the sector’s prospects for 1997, forecasting increases in both rents and capital values. It predicts a 12% return to property, which outstrips City predictions for both gilts and equity performance.
DTC has declared a dividend of 0.9p per share.
EGi News 15/01/97
