Germany's Drees & Sommer sees 2009 net holding steady; firms cost drive boosting demand

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. "The growth strategy is to be continued as far as market trends permit." In the annual report, the group said the drive to cut costs for real estate assets amid the crisis is resulting in increased demand for services such as facility management consulting, technical asset management and Green Building optimisation and energy management.