While numerous estate agents closed down over the course of last year, the Connells group have announced a huge pre-tax profit of £31 million.

The 37 million profit is from the whole group of the business said group chairman Steven Shipperley if you were to discount the profit made from the sale of out rightmove shares and one off profits of a non trading nature then the prodit figure would still be over £10 million.

Shipperley further stressed that the £10 millino profit figure quoted is after the deduction of all costs and provisions relating to measures such as branch closures and staff redundancy costs which Connells made during 2008 ‘After adjusting for non trading costs. out underlying Group operated profit was £24 million he added.