Estate agency Clyde Property has reported a doubling of pre-tax profits from £319,992 to £644,538 as the top end of the housing market continues to hold up and prices in the rental sector soar.
Clyde, which has 10 branches across Scotland from Stirling to Ayr, plus its headquarters in the west end of Glasgow, saw its turnover increase from £3.87 million to £4.2m according to accounts filed at Companies House for the 12 months to March 31 this year.
Property sales increased from 810 to 901, with lettings rising from 997 to 1104.
In notes to the accounts, the directors said: "While price premiums in residential sales are still rare the counter cyclical nature of the letting market has seen a major increase in demand across almost every price band."
Gary Thomson, managing director, said the market has started to show signs of recovery since the accounts were filed.
He said: "The past few years have been undeniably challenging for anyone involved in the UK property sector.
"However, at Clyde we are starting to see a positive change across both residential sales and letting, with general inquiries and the number of sales for the first quarter of 2012 showing a marked improvement.
"Customers are realising that values have levelled and although the market is still price sensitive it is now a good time to move, and across all our branches we have seen a noticeable increase in active buyers looking to move in the near future."
Mr Thomson said Clyde had been increasing its market shares in the areas it operates in by introducing seven-day opening and more flexible hours.
It has also invested in IT, training and infra- structure as well as making sure each office now deals in both sales and lettings.
He added: "By taking measures to help us deliver improved efficiencies for our customers, and believing that reinvesting in the business would yield dividends, we have achieved strong profits and a strengthened balance sheet, which has resulted in exceptional results in what is still a competitive and fragile environment."
Staff numbers during the year grew slightly from 110 to 114.
Directors' remuneration rose from £195,833 to £204,167, with the highest paid getting an increase from £102,581 to £105,878, figures revealed.
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