Property firm returns to profit

THE managing director of one of the country’s largest property firms, CB Richard Ellis said yesterday that he is “quite pleased” that the firm returned to profit last year.

Guy Hollis commented on new accounts filed with the Companies Office that show that US-owned CR Richard Ellis recorded a pre-tax profit of €1.7 million after revenues increased by 63%.

The company recorded the profit in the 12 months to the end of December last year after recording a pre-tax loss of €962,638 in 2009.