Dexters has seen profits grow on the back of its burgeoning lettings division.

The London-based agency, which has 156 offices, said sales revenues were up by 23% to £181m, while operating profits rose 9% to £40.4m in the year to end September, according to latest accounts filed at Companies House.

Revenue from lettings grew from £80m to £105m and accounted for 58% of total revenue during the 2023 financial year, up from 54% in 2022.

The agency group, which also owns the Marsh & Parsons brand, said it had seen particularly strong activity in premium areas in prime central London.

The number of staff members at the company grew by more than a quarter, rising 589 to 2,100.

The firm’s CEO, Andy Shepherd, said: “London remains a highly desirable place to live, study and work. London attracts both domestic and international buyers and tenants who choose to make capital their home.

“Our lettings division is highly successful and has expanded dramatically whilst significant sales deals across central London’s premium addresses has enabled our sales division to generate a strong increase in revenue for the financial year.”

He added: “Dexters remains confident about the strength and future performance of the London property market and the commitment to building more new homes in London.”