Double-digit growth in both retail sales and letting
Property agent Clyde Property has posted an 8.5 per cent rise in turnover for the year and a 101 per cent rise in pre-tax profits.
The Glasgow-based company has reported turnover of £4.2 million for the year to March 31, 2012, up from £3.86 million a year earlier.
Pre-tax profits from the year rose from £319,992 last year to £644,538.
The company said property sales rose 11 per cent last year and its letting division saw a 10 per cent increase in revenues.
Managing director Gary Thomson said: “The company’s increased profitability was the result of the management team realising that a restructuring of our business model was required to ensure customers received an unrivalled level of service which would in turn deliver continued business growth.
“The past few years have been undeniably challenging for anyone involved in the UK property sector.
“However, at Clyde we are starting to see a positive change across both residential sales and letting, with general enquiries and the number of sales for the first quarter of 2012 showing a marked improvement.
“Customers are realising that values have levelled and although the market is still ‘price sensitive’ it is now a good time to move, and across all our branches we have seen a noticeable increase in active buyers looking to move in the near future.”
Clyde Property has ten branches across Scotland, from Stirling to Ayr, and employs 114 staff.