Property firm’s profit slumps 88%

Pre-tax profits at the property firm that recently handled the €67m sale of the Burlington hotel in Dublin plummeted last year by 88.5% to €196,396.

CBRE is one of Ireland’s largest property firms and new figures show that profits at the firm dropped from €1.7m to €196,396 in the 12 months to the end of December last.

The firm sustained the sharp drop in profits after revenues decreased by 16% last year from €13.63m to €11.48m.