Property consultancy GVA Grimley has broken the £20 million annual sales barrier in Birmingham, despite the impact of the recession.
The company increased turnover in its Birmingham office by more than £1 million, to £20.4 million, in what was also a strong year nationally, according to financial results year ending April 30 filed at Companies House.
In Birmingham, which is where GVA Grimley was founded in 1840, annual profit increased by over £500,000, delivering a 10 per cent increase on the previous year.
Across all 12 offices in the UK, the group’s total turnover for the year was £129.5 million, delivering pre-exceptional operating profits of £18.4 million. This translates to a net profit before tax of £5.7 million.
Ian Stringer, regional senior director of GVA Grimley’s Birmingham office, said: “Despite a very challenging recessionary year, the Birmingham office has been able to grow significantly due to the exceptional results of a number of departments. There are now 350 people working in our Brindleyplace office, which is the largest office in the UK aside from the company’s West End headquarters.
“Our property management, property management accounts, valuation services and corporate recovery teams have demonstrated very strong growth during the past financial year. The recent introduction of the financial consulting team and economic and social development team has also brought new specialist services to our market-leading planning, development and regeneration division.”
Earlier this year, GVA Grimley was appointed by the Royal Bank of Scotland to manage its entire UK occupational portfolio. The property management accountancy function is being delivered by the Birmingham office. It was also appointed as planning consultants to the new Library of Birmingham by Birmingham City Council.
The appointment of Graham Knight – who joined from BNP Paribas – as a new director in the rating team has also strengthened the Birmingham office.
Stephen Brown, executive chairman of GVA Grimley said: “Considering the scale of the economic slowdown we have experienced, these are highly encouraging results that demonstrate our very robust and diverse business. Our broad range of service capabilities have resulted in another strong trading performance. These impressive results put us in a position of strength to pursue our corporate business strategy for growth.”
The year has seen big changes at the top of GVA, with Stephen Brown becoming executive chairman and Rob Bould being appointed as chief executive.
Malcolm Whetstone remained as managing director, as did Donald Smith as financial director. Steve Halbert moved to the role of deputy chairman.