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Knight Frank profits dip for second year running as Brexit and Stamp Duty changes bite

Reposit NS

Knight Frank’s profits are down for a second consecutive year, although revenues are up.

Chairman Alistair Elliott said that Brexit and Stamp Duty changes were to blame for the decline in pre-tax profits to £145.7m, down from £152.6m a year earlier.

Reporting on the 12 months to the end of March, turnover was up 3.3% to stand at £476.2m.

Elliott said that Stamp Duty reforms had particularly hit the top end of the London market, while ‘political and economic uncertainties around the world’ had also had an impact.

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Source:: Knight Frank profits dip for second year running as Brexit and Stamp Duty changes bite