Christie in profit for the year

28th Mar 2011 08:20

Christie Group, back in the black at the half-way stage, kept up its recovery through the rest of the year, making its first annual profit since 2007.The company, which provides structuring and finance, valuation and rent reviews, made £939,000 before tax in 2010 compared with a loss of £3.7m the year before. Revenue grew 4% to £48.9m and operating costs fell to £47.9m, down 5.6% on last year and 27.6% lower than its peak in 2008.Professional Business Services revenue was up 13.9% to £26.5m, pushing operating profit up to £1.5m. UK transaction revenues are up 21% on 2009."Price stability has now returned to the business sectors in which we operate, with asset prices showing improvements across most sectors," the firm said.And the dividend returns. Shareholders will get a 1p payout or 2010.LW