DTZ Holdings PLC reports record results (UK)

 Profit before tax increased by 44% to £29.7 million (2005: £20.6 million)
 Turnover rose 19% to £232.1 million (2005: £194.4 million)
 Earnings per share rose 53% to 37.9 pence (2005: 24.8 pence)
 Strong progress in ongoing development of Group's services worldwide, with particularly strong profit growth in Continental Europe
 Net cash position at year end strengthened further to £30.3 million (2005: £14.0 million), demonstrating the cash generative nature of the Group and its strong working capital management
 Group profit before tax margins increased to 12.8% from 10.6% in 2005
 In light of the Group's strong progress and strengthening financial position, the Board recommends a 40% increase in the final dividend to 7.00 pence (2005: 5.00 pence), bringing the total dividend for the year to 9.75 pence (2005: 7.50 pence)
 Acquisition after the year end of a 50% interest in Rockwood Realty Associates, a leading US capital markets consultancy, thereby creating a global capital markets capability.

Commenting on the results, Tim Melville-Ross, DTZ's Chairman, said:
"Only a small number of real estate advisers have global reach, and offer the range and quality of service needed by the most demanding international clients. DTZ is already well placed in this regard. The Board intends to continue pursuing the strategy outlined in our statement so that DTZ is acknowledged as the best in the business. Given the solid foundations we have laid, and the significant progress we have made this year around the world, the Board is confident that the Group will continue to perform successfully and profitably through varying market cycles in the future. The continued strong performance of our share price shows that shareholders have confidence in what we are doing, and we believe this latest set of results will further justify and underpin that confidence."

Johnny Dunford, CEE Regional Business Manager, said:
"DTZ continues to move from strength to strength and this is borne out by the impressive results published for the last year. The DTZ team in Central and Eastern Europe contributed to the strong performance with growth in all markets, but particularly Russia and Poland. With an increasingly firm operating base the future looks very promising."

Source: DTZ Holdings PLC

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