Solid results for the half-year to 31 October 2001 against a background of more challenging market conditions were reported by DTZ.
Group turnover was 15.6 % higher at Â£74.9 million. Profit before tax remained unchanged at Â£7.7 million. Earnings per share increased by 5.2 % to 9.16 pence (2000: 8.71 pence (restated)) as our continuing acquisition of the remaining minority interests in our subsidiary companies significantly reduced deductions for equity minority interests. Underlying earnings (EBITDA) increased by 8.1 % to Â£9.9 million.
The Board has declared an unchanged interim dividend of 2.25 pence per share, which will be paid on 22 February 2002 to shareholders on the register at 1 February 2002.
The benefit of the strategy outlined below is that our professional and consulting income has grown by 37 % to compensate for the fact that more difficult economic conditions somewhat constrained our agency activities, where income fell by 8 %.
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(Source: DTZ International)