Connells eyes further expansion

The Connells Group is on course for what could be a record year in 2016 after seeing pre-tax profits increase sharply last year. The company, which this year celebrates its 80th anniversary and operates almost 550 branches nationwide, said all parts of the business “delivered a strong performance” last year. Connells posted pre-tax profits of £62.5 million for the year ended 31 December 2015, up 19 per cent year-on-year and an increase of 72 per cent over the last three years. But it is currently not known what the revenue figures for the year was as the Group did not disclose the data. David Livesey (left), Chief Executive at Connells, described 2015 as “another stunning year” for the Group, with all parts of the business delivering “a strong performance”. He commented, “The housing market has not been without its challenges, characterised by lack of stock, so to end the year with strong profits and having sold more properties than 2014 and 2013 is a tremendous achievement. “We remain at the forefront of our profession and to maintain this position we made further significant investments into the business in 2015.” Last year, the company ploughed £25 million into branch refurbishments, acquisitions,…