DTZ: German subsidiary increases revenue and profit
The British DTZ Holdings plc. increased its group revenue during the 2007-08 business year; however, its profits fell. Compared to the previous year, group revenue climbed by some 44% to 446.3mn GBP (2007: 310.3 GBP). Group profit before tax and before exceptional items fell to 20.6mn GBP (2007: 38mn GBP), Group profit before tax, after exceptional fell to 5.6mn GBP (2007: 41.8mn GBP). The German DTZ subsidiary presented better results, stating that its revenue rose by approximately 52% and its profit by around 28%. During the period reported on, DTZ Deutschland doubled the number of its staff members from 180 to 390 at the present time. Jörg Nehls, the Business Manager of DTZ Deutschland, says, “The good results, with significant increases in revenue and profit, show that our strategy of expansion in Germany is on the right track.”