The Courier & Advertiser (Angus and Dundee)
Rebranded Galbraith set for renewed growth
Exceptional costs relating to expansion and a major rebrand put pressure on profits at independent property consultancy Galbraith last year.
Newly filed accounts at Companies House show the limited liability partnership, which was formerly known as CKD Galbraith, generated revenues of £11.46 million in the year to March 31, down from £11.78m the year previous.
Pre-tax profits also fell from £2.67m last year to £2.19m.
The group operates from 11 Scottish offices, including outlets at Cupar and Perth, and employed an average monthly staff of 220 staff last year.
The business had 27 senior members last year among whom the profit for the financial year is available for discretionary division.
“Galbraith has enjoyed continuous growth for many years and this year again we are seeing very encouraging signs in various areas of our business,” chief executive Pam Over said.
“The financial results for last year reflect the fact we had exceptional costs to bear in terms of rebranding, investing in new systems and opening a new office.
“We also promoted people to become members of the partnership.
“It is certainly the case that, like many property companies, we did see an impact on residential transactions due to the implementation of the Land and Buildings Transaction Tax.
“While the effect of that continues, our services are wide-ranging across the commercial, rural and residential sectors and continue to be in strong demand.”