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The Connells Group has announced financial results for the fiscal year ended December 31st. In 2022, total revenue will be £1 billion, unchanged from 2021.
The group also recorded pre-tax A profit of £67.5m, £111.3m in 2021 (property agent buys rival Countrywide).
Connells Group said the sale of its stake in TM Group in July 2021 was partly responsible for the decline in earnings.
The key performance indicators are:
+ Total home sale transactions down 18% on a like-for-like basis
+ Buyer registrations down 10% as demand eases
+ Ending the year with 10% market share, maintain the group’s market・Leading position
+ Over 9,000 new homes sold, new home income down 9%
+ Over £36 billion of mortgages generated
+ 4% increase in letting income similarlywith over 150,000 properties
under control
+ 695,000 investigation and evaluation jobs processed
Connells Group CEO David Livesey said: “2022 has been an extraordinary year. An unprecedented number of events impacting the housing market and the broader economy – of War in Ukraine, Cost of Living Crisis, Political Upheaval, Dire Mini-Budgets, and Upwards Bank interest rate movements. Against this background, these are a solid set of results.
“TCollective effort and perseverance from colleagues across our group It is our guarantee of success and we thank you for your continued contribution to our business.
“Looking forward, we‘Optimistic for the year ahead, signs in early 2023 go back More “normal” market conditionswe have an activity constant pace. ”