Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Record Results and 44% Increase in Pre-Tax Profits

DTZ Holdings PLC Reports Record Results and 44% Increase in Pre-Tax Profits

London Stock Exchange listed company DTZ Holdings PLC has announced its global results for the year ended 30 April 2006 which showed a 44% lift in pre tax profit to £29.7M on a 19% increase in turnover to £232.2M.

Commenting on the results overall, DTZ Chairman Tim Melville-Ross says that only a small number of real estate advisers have global reach, and offer the range and quality of service needed by the most demanding international clients.

“DTZ is already well placed in this regard. The Board intends to continue pursuing the strategy outlined in our statement so that DTZ is acknowledged as the best in the business,” said Mr Melville-Ross.

“Given the solid foundations we have laid, and the significant progress we have made this year around the world, the Board is confident that the Group will continue to perform successfully and profitably through varying market cycles in the future. The continued strong performance of our share price shows that shareholders have confidence in what we are doing, and we believe this latest set of results will further justify and underpin that confidence."

New Zealand CEO, Ross Pickett emphasised the significance of the global result and the improved performance in the Asia Pacific region.

“The parent company result is remarkably like the New Zealand performance. Our revenues were up by 17% and our profits more than doubled that of the previous year,” he said.

He also highlighted the financial strength of the group and its expansion and investment activity across the world. “Asia Pacific is very much part of this agenda and the investment in Australia, India, and the Asian countries will help the New Zealand operation achieve further growth objectives in the coming year."

Investment in Asia Pacific region to continue

DTZ continues to invest in Asia Pacific and the region’s results take into account some significant corporate acquisitions through the year and some substantial organic investment in building the business in countries such as India and Japan, while the results reflect only DTZ’s share of the profits in our associate business in China where we have also been recruiting heavily. Accordingly, the various strong performances, including from South East Asia post acquisition, were offset by our substantial revenue investment programme.

Asia Pacific activity highlights

- Increasing holding to a majority interest in DTZ’s South East Asia business (headquartered in
Singapore, with offices in Thailand, Malaysia and Indonesia)
- Acquiring the leading Sydney office agency business of Grosvenor Hickey Tindale Pty Ltd,
which has been merged into existing operations in Sydney
- Acquiring an industrial and property management team in Melbourne
- Development of Tokyo office
- Continued expansion in the Chinese associate business with the opening of offices in Wuhan
and Xian, bringing our mainland Chinese representation to 11 offices and 4,000 people
- Opening two more Indian offices in New Delhi and Mumbai.

Summary of global results for DTZ Holdings PLC

Profit before tax increased by 44% to £29.7 million (2005: £20.6 million)
Turnover rose 19% to £232.1 million (2005: £194.4 million)
Earnings per share rose 53% to 37.9 pence (2005: 24.8 pence)
Strong progress in ongoing development of Group’s services worldwide, with particularly strong profit
growth in Continental Europe


© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>