Allsop has released its annual report and accounts for the year ending March 2024. The company is an independent property consultancy covering the UK from our offices in the West End, the City and Leeds.
The company reported increased turnover and profit against the backdrop of a tough economic environment, which included the sustained high level of interest rates, rising costs, Ukraine war and relatively low volumes in the UK capital markets.
Turnover rose 5% to £45.22m (£43.09m) with profits rising 3% to £15.78m (£15.37m). Net assets also rose to £10.6m (£8.02m) and cash grew to £5.9m (£3.2m)
“These are a robust set of results particularly within a challenging environment where capital market volumes in commercial and residential markets were low. Sustained higher interest rates, wider lending margins, conflicts in Ukraine and the Middle East, together with impending elections created a tricky market to navigate.
“Despite this, we saw strong performance from our specialist residential and commercial auctions teams, particularly the residential auction team which had a record year. And, aligned with our investment strategy, our residential and commercial valuation teams continue to grow as we build our reputation and grow market share in advisory services in response to clients’ needs.
“We are pleased to have pushed turnover and profit along in the last 12 months. Our strategic vision remains to be the go-to partner in UK property transactions, consultancy and management services by prioritising trust, transparency and an exceptional partner-led service.
“To sustain long-term growth, we will continue to develop a balanced portfolio of services that complement each other and can trade successfully through unpredictable property cycles.
“We continue to invest heavily in our people, with approximately 10% of our staff developing through our strong and diverse apprentice and graduate programmes, which bodes well for the future talent pool of the business and in allowing us to sustain our unique culture. We are pleased to have had a 100% pass rate for the financial year for those taking their APC for RICS membership.
“As a result of our growth, we have published a Streamlined Energy and Carbon report. Reducing the firm’s carbon emissions is a key priority: we have signed up to the British Property Federation “Net Zero by 2050” pledge and we will continue to ensure the choices we make in areas such as accommodation and travel are aligned with this objective.”
Scott Tyler, Senior Partner, Allsop LLP
With teams based in London and Leeds and an international reach through its alliance with Millennium Group in Hong Kong, Allsop have the people, the experience, and the drive to maximise value for their clients in any given market.
