Property News Half year results for the six months ended 30 June 2011

Half Year Results

("Colliers International UK" or "the Group")

Colliers International UK (AIM: COL), one of the leading commercial real estate consultancy groups in the UK, announces its half year results for the six months to 30 June 2011.

Financial highlights:

  • Group revenues up 2% to £31.02m (2010: £30.33m)
  • Operating loss (before exceptional items) of £3.47m (2010: loss of £3.05m as restated)
  • Loss before tax of £3.99m (2010: £5.14m) 

Operational highlights:

  • Recruitment of senior individuals in key growth areas
  • More client facing organisation
  • Increasing levels of cross-selling and referral of instructions
  • Improving number of opportunities for new business pitches

Commenting on the results, Sir John Ritblat, Chairman said:
“We have restructured, refocused and rebranded our businesses. I remain confident about our medium and longer term prospects”