Colliers halves its losses

Commercial real estate consultant Colliers International halved its pre-tax losses last year to £8.4m, on revenues up 14 per cent to £65.9m. The firm said market conditions in the UK market are improving, though Colliers’ property management business saw a seven per cent decline in revenues as its clients sold their buildings. Colliers chief executive Tony Horrell said business in 2011 has been significantly higher than last year.