By Guy Montague-Jones2018-10-11T23:00:00
Senior partner Alistair Elliott and UK commercial head Stephen Clifton tell Guy Montague-Jones how the firm managed to bounce back after a dip in profits
Knight Frank, one of the few partnerships of scale left, has had its own difficulties in the face of the weak UK market for luxury homes. The company’s profits in both 2016 and 2017 dipped, partly as a result of the slowdown.
But financial results for the year to the end of March, published earlier this week, show that the business has turned a corner. Turnover was up 10% and profits jumped 14%, returning to their 2015 level.
In an interview with Property Week, Knight Frank senior partner and chairman Alistair Elliott and head of UK commercial Stephen Clifton argue that the business is now in better shape than ever and that far from being a hindrance, its partnership model is an advantage.
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