Information included for the purposes of AIM Rule 26.
Most recent results
- Complete announcement of Colliers CRE's final half year results for the six months ended 30 June 2009
- Placing and subscription to raise £20 million
- Colliers CRE Report and Accounts for 2008 (PDF 1.32MB)
- (Or read Colliers CRE's Report and Accounts for 2008 online)
- Preliminary results announcement for the year to 31 December 2008
Extraordinary General Meeting ('EGM') - 26 October 2009
The Board of Colliers CRE plc announces that at the General Meeting of the Company held on 26 October 2009, all the resolutions set out in the notice of general meeting contained in the circular sent to all shareholders dated 7 October 2009 were duly passed by shareholders. Set out below are the proxy totals in respect of each resolution. The registrars judged four proxy forms to be inadmissible.
- Proxy totals in respect of each resolution (PDF 41KB)
- Placing of and subscription for New Ordinary Shares and Notice of EGM
- Form of Proxy for EGM (PDF 36KB)
Annual General Meeting - 10 June 2009
All resolutions put to the meeting were carried. Proxies of in excess of 93% per cent were received in favour of each resolution.
- Notice of Annual General Meeting and Proposed Sub-division of the Share Capital of the Company (PDF 398KB)
- Form of Proxy for Annual General Meeting (PDF 83KB)
- Proxy voting schedule (PDF 7KB)
Financial results 2008
- Revenue of £78.0 million (2007: £117.5 million), in line with expectations.
- Operating loss of £4.9 million before exceptional net operating expenses of £5.1 million and impairment of investment in associates of £0.8 million.
- Post tax loss for the year of £10.0 million (2007: profit of £7.9 million) producing a loss per share of 22.12 pence (2007: diluted earnings of 15.34 pence).
- Banking facilities successfully renegotiated - £24 million three year facility.
Operations 2008
- Cost base reduced by an annualised £18 million.
- Transaction levels beginning to show signs of improvement from March 2009.
- Some signs of investor confidence improving, in particular for Central London offices.
- Acquisition and rapid integration of Godfrey Vaughan provides scale and credibility in the Central London office market.
Chairman's comment
"As late in the year as the beginning of September, we were still expecting revenues, as has traditionally been the case, to be significantly higher in the second half of the year than the first. The failure of Lehmans that month provoked a further lurch downwards in both sentiment and, as a consequence, transaction levels. Banks stopped lending and investors and occupiers put plans on hold. This market freeze continued into the fourth quarter and only now are we seeing the first tentative signs of a partial thaw.
"I believe we have done well to act quickly and decisively by reducing costs and reorganising our business to respond to these new market conditions. We are now in a position to take full advantage of an upturn in activity when the day arrives, but without having compromised our high service levels to clients."
Sir John Ritblat, Chairman
Chief Executive's comment
"We still face profoundly difficult markets. However, we can take a number of positives into the current year. Firstly, we have reset our cost base to a level well below 2008 revenues but without prejudicing our ability to transact much higher levels of business than those available currently. Secondly, we are generating solid, high quality recurring revenues in our Professional Services Division. Thirdly, we have invested in our Corporate Recovery Department and hope that the distressed asset business it wins will feed work to a number of our other business lines.
"Finally, if the early indications of a return of investor interest, initially in Central London, is maintained, we are today very well placed to access this business. This is because the Colliers International network is referring potential investors to us – including German and North American funds. And with the acquisition and integration of Godfrey Vaughan, we can now offer a competitive advisory and transactional service in Central London."
David Izett, Chief Executive
Previous reports
2008
Report and accounts (PDF 1.32MB)
Trading update, 16 January 2009
Half year results
2007
Report & accounts (PDF 3MB)
Interim results (PDF 163KB)
2006
IFRS restatement (PDF 126KB)
Report and accounts (PDF 1,924KB)
Interim results (PDF 74KB)
2005
Report and accounts (PDF 7,147KB)
Interim results (PDF 207KB)
2004
Report and accounts (PDF 1,157KB)
Interim results (PDF 245KB)
2003
Report and accounts (PDF 676KB)
2002
Report and accounts (PDF 1,028KB)
2001
Report and accounts (PDF 494KB)
Information within the investor relations section of our website is included for the purposes of AIM Rule 26.
This page last updated
28 October 2009
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