DTZ Holdings sees full year results exceeding expectations as first half profits surge (UK)

Property company DTZ Holdings plc said it sees results for the full year exceeding expectations as the company posted a 68% increase in first half pre-tax profits on the back of an 18% rise in turnover.

'We are sufficiently confident in the robustness of current market conditions and our own ability to respond to them to say that, in the absence of unforeseen circumstances, our results for the full year are likely to exceed expectations,' said chairman Tim Melville-Ross.

The group, which increased its interim dividend by 11 pct to 2.50 pence a share, said increased activity in the UK property market, coupled with increasing market share in key markets, contributed to the rise in turnover and profitability.

It added that improving performance in its overseas operations, where turnover increased by 12 pct with ´excellent´ performance in France and China operations, also contributed to the strong results.

Source: Freeman

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