Ryden posts rises in turnover and profit
Scotland-based property consultant Ryden has reported a 19% rise in turnover to £13.8m in the 12 months to 30 April 2018.
The firm also posted a 33% increase in profit available to members to £5.3m.
Ryden said its Glasgow business grew by 25% to £4.6m, while its Edinburgh operations were up by 15% to £3.5m.
Scotland-based property consultant Ryden has reported a 19% rise in turnover to £13.8m in the 12 months to 30 April 2018.
The firm also posted a 33% increase in profit available to members to £5.3m.
Ryden said its Glasgow business grew by 25% to £4.6m, while its Edinburgh operations were up by 15% to £3.5m.
Outside Scotland, operations in England were up by 41% to £2.8m.
Both the transactional and non-transactional sides of the business were up by 20%.
The investment side of the business had a “particularly good” year of growth, delivering 16% on income and 27% on profit.
Key transactions over the period include lettings at Atlantic Quay 1 and 3 in Glasgow, the purchase of an office building on St Andrew Square, Edinburgh for conversion to a Malmaison Hotel and the sale of the Vertex building at Eurocentral to Brewdog.
Last year Ryden also announced its merger with Scottish planning consultancy Muir Smith Evans. The firm also expanded into Manchester.
Ryden has six offices in Edinburgh, Glasgow, Aberdeen, Leeds, London and Manchester. It has 42 partners and around 110 staff.
Bill Duguid, managing partner at Ryden, said: “These results show a very strong performance from our teams. While our agents continue to dominate the industrial property market in Scotland, and conclude outstanding office property transactions, we are also seeing fantastic income growth from our property asset management and project management specialists, who are delivering projects for organisations like Morgan Stanley and Independent VetCare.
“We recently appointed five new partners through internal promotions, our offices in England are expanding, and we are concluding property deals in Aberdeen, working with clients to build on the confidence returning to the city.”
He added: “The next year will be an interesting time in the UK economy with a number of political events and changes to come, but I firmly believe our business is prepared to face any challenges thanks to the consolidated growth we have been experiencing.”
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