Developers reveal strong results - commercial mortgages

14 September 2007

Landlords with commercial mortgages looking to make more investments in the future have been buoyed by the news that commercial property developer Eatonfield has reported better than expected full year results.

The firm has revealed that pre-tax profits rose by 48 per cent to stand at £5.1 million, with turnover rising by seven per cent to reach £18.6 million.

"We are pleased to announce our maiden preliminary results which demonstrate that 2007 has been a successful year," commented Eatonfield chief executive Rob Lloyd.

"Our profit performance for the seven months since the flotation is slightly ahead of expectations and we have achieved improved margins from a greater proportion of commercial property transactions," Mr Lloyd added.

The results come as construction firm Kier has announced that it has posted record profits on the back of its housebuilding efforts, with the Manchester Evening News reporting that the firm has said that demand for commercial property remains strong.