Property adviser Knight Frank saw profit rise 10% to £102 mln (EUR 116 mln) in the year ended March 31 from £92.3 mln in the same period a year before. In a statement this week, the firm said turnover increased 7% to £308.4 mln from £288.0 mln in 2010.

'I am pleased to report continuing strong performance across the group with all regions delivering profits in variable trading conditions,' said Nick Thomlinson, senior partner and chairman of the Knight Frank Group. 'We remain focused on developing our global network with particular emphasis on progressing our relationships and businesses in the Middle East and Africa.'

The Lonoon-based, privately held services firm has opened offices in Dubai, South Africa, Austria and Switzerland this year, and expanded existing teams in China, Australia, India and the UK.

Over the past 12 months, the company has strengthened its balance sheet and increased net assets to £125.1 mln, versus £98 mln a year before. A further £10 mln has been added to reserves, bringing net cash in bank to £90.6 mln.

Thomlinson: 'We remain cautious about the outlook for the year ahead, considering the ongoing economic uncertainty around the world, and have strengthened our balance sheet by retaining profits for investment in the business.'