Profits halve for property group
Pre-tax profits have halved at Coleshill property group, IM Properties, despite the business enjoying a successful 2016.
The group enjoyed a stellar 2015, with pre-tax profits breaking the £100m barrier for the first time to reach £103.2m.
The year was boosted by the exceptional sale of a £200m industrial portfolio to a Malaysian pension fund. 2015 also saw revenue increase by 30% to £164m.
Such a performance was always going to make comparisons difficult in 2016 and so it has proved.
Despite continuing to outperform t... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
