Andrews Property Group has announced an impressive financial turnaround, reporting a £1.9m shift in profitability for 2024. Group revenue increased by 6% to £21.17m.
Under the leadership of managing director David Powell, chief operating officer Simon Cheetham, and finance director Jonathan Poole, the estate agency, under charitable ownership, says it has achieved growth across all divisions.
Operating from branches throughout the south of England, Andrews offers a wide range of services which include sales; lettings; financial services; property asset management; block and estate management, as well as land and new homes.
Sales revenue surged by 17%, while both lettings and financial services saw 2% increases. Additionally, the group has successfully reduced its debt burden by nearly two-thirds, from £1.61m to £582,000.
“The last couple of years have been a defining moment in the history of Andrews Property Group, in particular the last 12 months,” said David Powell, managing director. “Changes in structure, process and new partnerships have been embraced by the group. There is a real team camaraderie, with everyone pulling together to ensure the performance of the group sets a solid foundation for the next part of our journey.”
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