DM Hall saw an increase in both turnover and profits in the year to December 2017 which sets the scene for significant growth.
Eric Curran, managing partner of DM Hall, said: “In 2017 we saw significant investment in the future: in our IT capability, a series of office re-locations to modernised premises and, as ever, the recruitment of new, young graduate surveyor talent to our ranks. We are witnessing also satisfactory and highly encouraging returns from our investment in non-core activities including property searches.”
The Annual Report records that “economic fundamentals in 2017 were similar to those in the previous year hence the trading conditions experienced, and the financial results produced by the firm are very much in line with 2016.
“The firm, however enjoyed an increase in the volume of Home Reports instructed and this helped to lift turnover 3 per cent above last year’s level. Staff costs increased in the year reflecting the challenges of recruiting and retaining qualified staff as well as the reduction in the number of members. Operating costs have been well controlled and show a year on year reduction.
“The members broadly expect 2017’s trading conditions to continue into 2018. The firm will continue to focus on growing core services while expanding peripheral services and leveraging technology to maximise efficiencies.”
Turnover in the year rose from £14.72m to £15.23m and profit before members’ remuneration and profit share was also up, to £2.52m from £2.46m in the previous year.