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Annual Results

Savills lifts FY pretax profit, revenue and dividend

22 March 2017 07:23

Savills has lifted its FY pretax profit by 1%, revenue by 13% and total dividend by 12% in what it described as a another record performance against a backcloth of geopolitical distractions in some markets.

Pretax proft was £99.,8m, from £98.6m, with revenue coming in at £1.445bn, from £1.283bn. Total dividend was up 12% to 29p a share, from 26p.

CEO Jeremy Helsby said overall Savills had delivered another record performance in 2016 despite the geopolitical distractions in some of its markets.

"We benefited from the scale of our operations across the globe, which have grown substantially over recent years, as well as a highly resilient performance in the UK," said Helsby.

"Our less transactional businesses, particularly Property Management and Investment Management grew strongly while our global Transaction Advisory business produced a solid performance despite variable conditions in many markets," he added.

Savills had entered 2017 with a continuation of global macro-economic concerns, rising bond yields, uncertainty over the impact of Brexit negotiations in the UK and Continental Europe and a new administration in the US.

"We have started the year well and our expectations for the full year remain unchanged."

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