Knight Frank announced its financial results for the year ended 31 March 2015 reporting a record £162m profit and £443m turnover.
- Group profit before tax up 19% to £162.0m (2014: £136.6m)
- Group turnover up 13% to £443.1m (2014: £392.7m)
- Strong balance sheet with net cash balances at £167.8m (2014: £141.7m)
Alistair Elliott, group chairman and senior partner, Knight Frank said: “I am pleased to report another strong set of results for our latest financial year. We have achieved a 19% increase in profit, whilst continuing to invest significantly in recruitment and expanding our global platform.
According to Mr Stephen Ellis, Chief Executive Officer for Knight Frank Australia, the Australian business has grown significantly in recent years with a strong focus on growth areas and hiring the best talent.
“A fundamental driver of the growth of Knight Frank Australia has been our focus on key areas of expansion across the business. This includes New South Wales, which has developed profoundly in recent years with a number of significant market transactions and appointments. Further growth sectors we are focused on include Industrial, Asset Management Services, Project Management and Building Consultancy, Valuations, Capital Markets and Residential.
“Across the business, Knight Frank Australia has made a number of key appointments within sectors such as Capital Markets and Residential, including most recently the appointments of Martin O’Sullivan and Michael Robinson.”
Mr Martin O’Sullivan recently joined Knight Frank’s Capital Markets team in Melbourne as Head of Institutional Sales. Mr O’Sullivan has been in the commercial property market for 25 years, having previously been the head of commercial institutional sales at CBRE and Colliers International. In addition, Knight Frank recently announced the business is ramping up its residential presence in Australia with the acquisition of Melbourne-based LOOK Property Group, led by Managing Director Mr Michael Robinson, who brought a team of project marketing and sales consultants.