Trowers & Hamlins sees profit drop by over a third

December 24, 2013 Trowers & Hamlins has posted its financial results reporting that profit has plummeted by more than a third, from £28.4m to just £18.8m.
RollOnFriday attributes the falling profits to high exposure in the not-so-profitable Middle Eastern market (the firm has office in Dubai, Oman, Bahrain, Cairo and Abu Dhabi) and to costs associated with fitting out new offices.

A spokeswoman for the firm said "half of the drop we experienced was an accounting issue caused by double occupancy and the move of our HQ".

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