Drivers Jonas reports 36% turnover increase to £67.4m

European property consultant Drivers Jonas has reported a gross turnover of £67.4m, an increase of 36% on 2004/2005.

The year-end results for the year to 31 May 2006, announced today, show a 28% improvement in pre-tax and pre-bonus profits to £13.7m.

The firm’s managing partner, Nick Shepherd said: “We expect our European practice, currently base in Paris and Frankfurt, will continue to grow at an above trend rate of 30% pa as more and more international investors seek reliable and independent investment and market advice in mainland Europe.”

He added: “Since 1 June this year we have valued more than €1.4bn of investment property.”

Furthermore, a 30% revenue growth was reported in the firm’s London agency business, and building surveying and PM practices.

Key schemes this year included a deal with the government of Northern Ireland to select a PFI partner for the £100m outsourcing project. The Royal Shakespeare Company also appointed the firm for a £100m project management theatre development.

Additionally, Drivers Jonas has been appointed sole adviser and asset manager to the new property investment fund Rynda en Premier which is targeting to invest €400m in the French property market over the next couple of years.

Shepherd said the firm will announce the opening of a new office in mainland Europe before the end of the year.