Knight Frank LLP post $176 million pre-tax profit

Global real estate firm Knight Frank LLP has finished its financial year posting a group profit before tax of £102.7 million (AUD $176 million) in the 12 months to 31 March.

The profit result represented a 7% increase over the previous year, on group turnover of £350 million (AUD $602 million).

The company did not breakdown individual country results. 

But Knight Frank Australia group managing director Kevin Coppel said that “while there are always things for us to work on, we are pleased with how our business is travelling... We are confident that our business will continue to strengthen in the current year.”

“Knight Frank has been involved in a number of major transactions across the country over the last 12 months and we continue to invest in our Australian business, with the priority being our agency businesses on the East Coast,” said Knight Frank Australia executive chairman Stephen Ellis.

Highlights for the Australian business from the year included Boeing Defence Australia committing to a 7,459 square metre lease, at 150 Charlotte Street, in Brisbane's CBD and specialist property fund manager CorVal buying an office building near Perth’s CBD from Australian Unity for $72.15 million.