Guernsey-headquartered corporate services provider PraxisIFM has announced a strong set of figures
in its 2018 annual results.
The group experienced a busy financial year, making three
acquisitions in the Netherlands and opening offices in London and
New York. Two further acquisitions after the end of the
company's financial year have taken its headcount to 540 people
across 17 jurisdictions.
The company, which is listed on Guernsey-based The International
Stock Exchange, recorded revenues up 21% to £42.5 million,
although net profit was down year-on-year from £5.5 million
to £3.3 million. The company said this was due to the
significant investments made during the year, with CEO Simon
Thornton saying these were "in the best interests of the group
as we continue to develop, even though they have had a short-term
impact on profit and EBITDA".
