Allsop saw turnover grow and profits soar by 57% for the financial year ending March 2022. Turnover increased 31% from £31.75m in 2021 to £41.66m in 2022 and profit before members’ remuneration and profit share surged from £10.91m in 2021 to £17.10m.
The firm said its net assets ‘remain strong’ at £11.05m and cash in the business stands at a ‘healthy’ £7.84m
Scott Tyler, senior partner at Allsop, said: “The financial year to March 2022 demonstrated a great recovery from the previous year, which was impacted by Covid, with vastly improved volumes across all capital markets.
“Highlights included our auction businesses in both commercial and residential continuing to thrive using the online platform with approximately £1bn raised. Indeed, the commercial auction team now has approximately 70% market share. In addition, the City team had a particularly strong last quarter of the financial year with headline deals including the purchase of 5 Fleet Place, London, EC4 at £191m for private overseas capital and the acquisition of 99 City Road at £150m for eastern capital.
“Despite the markets in 2022 having become trickier and with the undoubted challenges ahead, the business continues to invest in additional people in most of its 11 business streams.”
