Stanhope has reported an increase in its pre-tax profit for 2015 to 拢13.2m
Stanhope has posted a 56% jump in pre-tax profit to 拢13.2m for the year to March 2015, up on 拢8.4m the previous year.
Chief executive David Camp said the developer had increased its staff numbers from 48 to 60, adding that they expect to increase the firm鈥檚 staff by a 鈥渇urther 10% in the next 12 to 24 months鈥�.
Camp said Stanhope is focusing on long-term, complex projects such as the development of the Television Centre, which will deliver 鈥渂eyond the current cycle,鈥� which he attributed partly to a competitive market where 鈥渢he acquisition of new development projects in the short term at appropriate pricing is very limited鈥�.
The firm also anticipates a move of its headquarters before the end of the year as its lease expires on its current home in St James鈥檚 Square. Camp said this 鈥渨ill require significant capital investment in new accommodation, fit-out and technology鈥�.
The company paid dividends during the year totalling 拢5.2m up from 拢3.9m for 2014.
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