15th Aug 2025 13:13
(Alliance News) - Fletcher King PLC on Friday said profit nearly halved during its most recent financial year, as expenses rose and property markets remained "subdued".
The London-based chartered surveyors firm said pretax profit for the year that ended April 30 declined 40% to GBP274,000 from GBP452,000.
This was despite revenue remaining broadly flat on-year at GBP3.8 million, as total expenses increased 5.7% to GBP3.7 million from GBP3.5 million.
Shares in Fletcher King were up 11% at 40.00 pence in London on Friday afternoon. The stock remains down 16% over the past year, however.
The firm maintained its final dividend at 2.25 pence per share, unchanged from the year before.
"With property markets remaining subdued, we are pleased to report a profitable year, albeit at reduced levels compared with last year. We are also pleased to recommend maintaining the annual dividend at the same level as last year," said Chair David Fletcher.
"Markets may remain challenging for a while longer and we continue to focus on improving non-transactional income. Our strong balance sheet continues to provide comfort as well as the potential for investment activity if we find the right opportunity."
The company noted the London real estate market in particular "has a long track record of attracting global capital in times of heightened instability", and so remains "optimistic that the UK commercial property market will continue to provide solid returns over the coming month".
Fletcher King expects non-transactional income to improve over the coming year.
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Fletcher King