London, United Kingdom

Colliers CRE plc, one of the UK's top ten commercial real estate consultancy service groups today announces its half year results for the six months to 30 June 2007.

Financial Highlights:

• Fee income increased by 34.5% to £49.63 million (2006:  £36.89 million), reflecting significant organic growth as well as income generated from acquisitions completed over the last 18 months
• Profit before taxation for the period almost doubled to £3.01 million (2006: £1.59 million)
• Fully diluted earnings per share increased by 50% to 4.47p (2006:  2.98p) reflecting the higher post tax profits partially offset by the increased number of shares in issue following the rights issue towards the end of last year
• Interim dividend increased by 10% to 1.55 pence per share (2006: 1.41 pence), underlining confidence in the Group's future prospects

Operational Highlights:

• Colliers has made excellent progress in the first half of the year, with our valuation, investment, building consultancy and licensed and leisure teams in particular all performing well, servicing a UK and increasingly international client base
• Two further bolt-on acquisitions completed to strengthen the Group's UK service offering 
• Continuing investment in fund management and co-investment businesses
• Madrid and London offices combined to advise on the UK's largest ever single asset commercial property deal - the acquisition of HSBC's head office building in Canary Wharf for £1.09 billion

Commenting on the results, Sir John Ritblat, Chairman, said:

"Given the background of a continuing strong economic outlook for world economies, property demands from both occupiers and investors are set to remain robust in both the UK and Europe. Whilst it is true that yields are softening in some areas of the market, we have so far found this to be predominantly in the secondary and tertiary markets.  Notwithstanding this, there is a weight of money from the UK, Europe and further afield waiting to be invested into real estate.  The Group has had a strong start to the year, and we remain optimistic for continued growth year on year in both turnover and profits." 

David Izett, Chief Executive, added:

"We believe that real estate is now, on the whole, fairly valued. In order to generate above average returns, buyers now need to ensure careful asset selection and have access to strong asset management capabilities.  This necessitates high quality advice. With our broad market coverage, in terms of service, sector specialisation and geography, and with a good balance of transactional and non-transactional work, we believe that we are extremely well placed to service our diverse client base and continue to generate strong revenue streams. We are confident of the Group's ability to deliver on its strategic ambitions."

To view the six months results in full, please click here.

About Colliers CRE plc

The Colliers CRE Group provides a broad range of real estate consultancy services and comprises; Colliers CRE (general practice surveying); Colliers Capital UK (fund management); Locum Consulting (destination consulting) and Deanwater Estates (property co-investment).  The Group also owns majority shareholdings in Colliers Jackson-Stops in Ireland and Colliers International in Spain. 

The Group is one of the UK's top ten real estate advisory organisations, employing over 850 people.  Colliers CRE plc is quoted on the Alternative Investment Market of the London Stock Exchange.  The Group is a member of Colliers International Property Consultants, a worldwide affiliation of independently owned real estate service businesses, comprising 241 offices in 54 countries. 

Contact Information

Natasha Sunderland
PR Director
+44 20 7344 6641

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