The PraxisIFM Group has reported a seven percent increase in revenue to £60.5 million – an increase of £4.2 million from 2019. Despite this the firm recorded a net loss of £2.7 million – down from a profit of £9.7 million last year.

In its annual results for the year ended 30 April 2020, the financial services group acknowledged the challenges of a difficult 12-month period and outlined the actions taken to refocus the business.

Group chairman Andrew Haining said that a combination of factors had contributed to a “difficult year” for the group, including the impact of COVID-19 during the final quarter and re...