Tuesday, 28 February 2012
Bruntwood performs well in a tough climate
The results, which represent the financial year ending September 2011, highlight that the company's fixed assets were up by 2 per cent to £966m, while its net worth had increased to £318m – a rise of 2.5 per cent. Despite a slight fall in turnover, to £99m, profit before tax had also improved by 1 per cent to reach £11.2m.
Chris Oglesby, Bruntwood’s Chief Executive, said: "The economic climate continues to be tough and we have had to work hard, as a team, to deliver these results. We are continuing to focus on our customers in the current marketplace to ensure they have the services, flexibility and competitively priced accommodation that they need."
The family-owned property company provides a range of office options for businesses, including long-term commercial suite rental and retail space hire. It also offers virtual office space and meeting room facilities for businesses which don't need additional space on a daily basis.
Serviced offices are very popular, as they allow companies to operate in a flexible manner in unpredictable circumstances. For example, a business which has just started trading, or an existing organisation which is not sure of its upcoming office space requirements, can choose to rent extra space for as little as one month. Their occupation in the building can then be extended if required, providing a valuable option during times of financial uncertainty.
Bruntwood owns in excess of 100 properties throughout the north and the Midlands, chiefly focused around Manchester, Liverpool, Leeds and Birmingham. Many of its buildings feature everything from function rooms to training rooms.
Mr Oglesby added: "Through the recent economic turbulence, our main focus has been on driving value in our existing portfolio. Looking forward we are keen to grow in the science and technology sector in Manchester as well as to continue to develop our business in Leeds, Birmingham and Liverpool."