Leading UK commercial property consultancy Bilfinger GVA, which employs over 80 people in its Bristol office, has announced a marked rise in turnover to more than £150m, and a 33 per cent rise in profit for the year to 30 April 2014.
Bilfinger GVA’s accounts illustrate how revenues increased by 7 per cent to £157.6m, up from £147.3m the previous year. The significant rise helped pre-tax profits to climb even higher, increasing upward from £7.8m in 2012/13 to £10.4m.
Rob Bould, Chief Executive of Bilfinger GVA, commented: “First and foremost these results highlight our growing strength here in the UK, and bolster our position as the UK’s leading regional advisory consultancy.
“Second, it reinforces our pan-European position. Our performance in the UK is providing us with a strong platform from which to grow. That performance, together with a commitment from Bilfinger Real Estate to heavily invest in Bilfinger GVA’s already robust business using its reach and resources, allows us to continue to capitalise in our new European alliance. In time this will start to create a challenger brand in Europe that is consultancy-based.
“Our performance is buoyed by renewed optimism from developers. Sentiment, although fragile in areas, keeps improving. With capital flow increasing and the debt funding market opening up, the opportunities are greater than at any time post Lehman’s. Our clients are growing in confidence.”
Jo Davis, Regional Senior Director at Bilfinger GVA in Bristol, said: “Bilfinger GVA continues to dominate the South West market with high-profile projects across the region. We have acted on behalf of the MoD in selling 70 acres of residential development land in Bath with the potential for 750 new homes; as well as for North Bristol NHS Trust in the disposal of 60 acres of land in Frenchay with the benefit of planning permission. Our industrial agency, restructuring and recovering teams recently secured a buyer in under four months for one of the largest factories in the South West ever to come to market in Highbridge; while our office agency team took top slot in the Estates Gazette Bristol agents league in 2014, with its average deal size more than double the city’s overall average.”
GVA merged with Bilfinger Real Estate, part of the €7.7bn-turnover global engineering and services group, to establish a new European real estate consultancy in July 2014.
Rob Bould commented: “This hugely exciting deal marks the most significant and transformational milestone in the history of our company. It represents a major opportunity for Bilfinger GVA’s future growth and prosperity, and our ultimate ambition to compete for the larger global mandates.
“Our business underwent significant change in 2014. This year, we will start to see those proposed changes come to life. Already this calendar year Jo Davis has been appointed head of our Bristol office.
“Uniting our teams means we can accelerate profit growth to increase rewards and enhance careers for our staff and support the continued investment into the business.”
