Property consultant increases profit by 28% and announces the impending opening of a European office

Property consultant Drivers Jonas revealed a 28% rise in pre-tax and pre bonus profits to £13.7m for its end of year financial results as it prepares to open a new European office.

Turnover shot up 36% to £67.4m for the year ending 31 May 2006. Staff bonus pool was £6.8m

The company said the results were driven by particularly strong performances from the UK investment, valuation & consulting and mainland European businesses.

Nick Shepherd, managing partner praised the results and also said the consultant hoped to announce the opening of a new European office soon.

Shepherd added: “We have now recorded 13 successive years of revenue growth and this year’s increase in turnover, and pre-tax pre-bonus profit has been excellent. We have also been investing heavily in the business across all disciplines, and we are now seeing the returns.”