Capita Symonds Ltd posted a sharp increase in profits in 2009 despite a slight decline in turnover.
Documents filed with Companies House last week reveal that pre-tax profit for the year ended 31 December 2009 jumped almost 30% to 拢22.7m, up from 拢17.2m for the same period in 2008. Turnover at the multidisciplinary consultancy slipped to 拢201.2m from 拢204.8m.
A spokesperson for Capita Symonds added that when the group鈥檚 regional partnerships with local authorities and other entities were taken into consideration, overall turnover was 拢272.7m, yielding a pre-tax profit of 拢26.5m.
UK turnover, which accounts for most of the group鈥檚 business, fell 拢4m to 拢190.3m. Meanwhile, international turnover increased slightly to 拢10.8m, from 拢10.4m in 2008.
Capita Symonds opened an office in Abu Dhabi last year to increase its overseas presence and this week the group also announced the formation of Capita Symonds Saudi Arabia, a joint venture company with Saudi Arabian conglomerate Ghassan Holding Group, a privately held business owned by gold tycoon Sheikh Ghassan al Nemer.
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