Stuttgart's Drees & Sommer sees 2009 net holding around 2008 levels

The Stuttgart-based project management and real estate consulting group Drees & Sommer boosted net income last year by 10.9% to e12.3m, slightly below the 13.7% growth in revenues to total e137m. The group expects pre-tax and revenues for 2009 in line with last year's results despite the recession. "This shows that the company's strategy of ensuring a market-focused range of services in project management, real estate consulting, and engineering .. has paid off," Drees and Sommer said."Foreign business last year amounted to 22% of revenues, and the equity ratio of the group, structured as a holding company owned by 26 partners, was 31%. The dividend for fiscal 2008 was raised despite an increase in reserves and accruals compared to 2007.( Full story to be published in PIE 128 on 6 July)