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Savills reports resilient performance

By BFN News | 07:32 AM | Thursday 12 March, 2020


International real estate adviser, Savills, has reported a 10% boost in revenue in 2019, driven by strong performance in its 'less transactional' business lines. Pre-tax profits at the firm remained stable at £143.3 million in 2019, compared with £143.7 million a year earlier. Statutory profit before tax increased 6% to £115 million during the period. Savills has also announced a 3% increase to final and supplementary interim dividends to total 32.0p per share. Profits in the UK increased by 7% to £81.9 million, driven by property management and consultancy, while Savills UK Residential grew revenues by 6%. Continued growth in North America, driven by the occupier-focused business, saw revenues rise 11% and underlying profit increase 35% to £17.3 million Savills Investment Management reported a record year with revenue up 19%, profits up 65% to £18.1 million and AUM up 8% to £17.7 billion. £3.1 billion new inflows up 29% on 2018. Story provided by StockMarketWire.com

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