The group - which will announce its results for the year to the end of December in late March - said it expected the momentum to continue into 2010.

According to Colliers, the fourth quarter was its strongest in terms of revenue generation in 2009. But difficult trading conditions earlier in the year, and the length of time some transactions were taking to close, would result in an operating loss of around £10m before interest and exceptional items - £8m of which was sustained in the first half.

The firm will report year-end net debt of approximately £8m.

Chairman Sir John Ritblat said: "2009 was certainly a challenging year. However, we ended it with a strengthened balance sheet and encouraging prospects for 2010.

"I am confident that the company will now move forward strongly."