Commercial Finance Specialists

Commercial property firm Bruntwood has reported a rise in turnover and profit for 2009.

Commercial property investment company Bruntwood has reported an upturn in turnover of 11.5 per cent to £97 million and operating profit of 9.5 per cent to £12.6 million as the company files its latest accounts for the financial year 2009.

The north of England-based firm's fixed assets now stand at £912 million, following a full revaluation of the portfolio by Knight Frank in September last year, marking the first time the company has seen a reduction in its property values.

Chris Oglesby, chief executive of Bruntwood, said that the "underlying fundamentals" in the company's business continue to improve in spite of the property crash and difficult economic conditions.

He added: "2010 is likely to be a year when Bruntwood start to invest again in expansion and we look forward to the year confident and enthusiastic."

Bruntwood recently announced that it had gained new sources of finance after signing six commercial property deals within its Leeds city centre office portfolio.