Home
18 March 2010
Savills plc preliminary statement of results for the year
ended 31 December 2009
Resilient result in an unprecedented property market. Savills
plc, the international real estate advisor, is pleased to announce
its results for the year ended 31 December 2009.
16 March 2010
Savills welcomes cyclists to Cannes
On 16 March 2010, Savills opened the doors of its MIPIM Café
to 83 Aedas Cycle to Cannes riders along with their support team to
celebrate the completion of a...
16 March 2010
Lenders have increased appetite but lack product and
development finance is back
International real estate advisor Savills has today (16 March
2010) named the UK commercial property market's top 21 lenders for
2010 with an appetite to lend...
12 March 2010
Competitive bidding at Savills auction as locals take on
nationals
Savills has completed it first commercial auction of 2010 on
Monday 1 March, achieving an overall success rate of 88%. The sale
took place in The Ballroom at ...
12 March 2010
Sharpest rise in commercial development activity since May
2007
View key summary and full Commercial Development Activity
press release
11 March 2010
Edinburgh office tenants set to benefit in 2010
According to Savills research, office occupiers looking for
new space in Edinburgh are set to benefit from attractive lease
terms in 2010 as landlords recogni...
05 March 2010
A green opportunity for investors large and small
Savills Energy is selling a 50% share in a proposed wind farm
development in Aberdeenshire.
27 February 2010
Exceptional golf investment opportunity
A golf course investment in Hampshire has come onto the
market following the demise of the head lessee.
27 February 2010
Superbrand Savills remains top in Real Estate
Savills has been ranked the best Business Superbrand in the
Real Estate advisory sector for the fourth consecutive year.
25 February 2010
Crafty new letting at Queens Retail Park, Stafford
British Land on behalf of the Hercules Unit Trust,
represented by international real estate advisor Savills and
Wilkinson Williams, has let Unit 4b at Queens ...
25 February 2010
Poundland drives further letting success in Dewsbury
Ravenhill Estates, advised by international real estate
advisor Savills, has let units 19-23 at The Princess of Wales
Precinct in Dewsbury, West Yorkshire to Poundland.
25 February 2010
Hatrick deal success for Herbal Inn
Herbal Inn, represented by international real estate advisor
Savills, has recently taken three new units in Lakeside, Enfield
and Hastings.
25 February 2010
Next phase of estate regeneration gets go-ahead in
Stockwell
Lambeth Council has resolved to grant planning permission to
Community Trust Housing; part of Network Housing Group, for the
redevelopment of Cumnor and Lidco...
15 February 2010
Landmark planning decision gives green light for 'Earth
Dwelling'
A self sufficient rural home is to be built at Bow Brickhill,
Buckinghamshire, after Planning team in Milton Keynes secured
planning permission on behalf of the landowner.
12 February 2010
Top end London Residential market defies pull of
gravity
The prime central London property market has made a strong
start to the year, for now defying expectations that demand would
subside and stock levels increase...
Savills plc preliminary statement of results for the year ended 31 December 2009
Resilient result in an unprecedented property market. Savills plc, the international real estate advisor, is pleased to announce its results for the year ended 31 December 2009.
Highlights
- Strong second half performance from Asia Pacific transactional business
- Strong performance from UK Residential business
- UK Commercial business strengthened in fourth quarter
- Cost savings of £62m achieved in the year
- Selective investment in new teams and individual recruitments
Key Financial Information
Underlying Results*
Revenue: £560.7m (2008: £568.5m) (1.4% down; 7.6% down in
constant currency)
Underlying profit before tax: £25.2m (2008: £33.2m)*
Underlying basic earnings per share: 14.5p (2008: 18.1p)*
Year end net cash: £66.3m (2008: £45.7m)
Reported IFRS results
- Revenue: £560.7m (2008: £568.5m)
- Profit before tax: £13.5m (2008: loss £7.7m)
- Basic earnings per share: 7.3p (2008: loss 9.3p)
- Second interim dividend: 6.0p per share (2008: nil), making 9.0p for the year (2008: 9.0p)
* Underlying profit is calculated by adjusting reported pre-tax profit by exceptional items, profit on disposals, share-based payment adjustment and impairment and amortisation of goodwill and intangibles (excluding software).
Jeremy Helsby, Group Chief Executive of Savills plc, commented:
"I am pleased to report a resilient performance across the group with significant improvement in the second half of the year. In particular, UK Residential performed strongly as markets recovered and the performance of our Asia Pacific businesses, which now represent 38% of the group's revenues, endorsed our strategic decision to expand in this region.
"Notwithstanding the improvement in the second half, market conditions remain unpredictable. We have reduced costs significantly across the Group whilst maintaining the operating capacity of our transaction teams around the world to take advantage of improvements in market conditions.
"Against this backdrop we maintain a cautious stance and anticipate that our overall performance in 2010 will be similar to that of 2009, although the relative contributions of our individual businesses may be somewhat different. We remain, however, well positioned with a strong balance sheet to continue our strategy of building the business and pursuing selected investment opportunities should they arise."
CONTACT INFORMATION
For further information please contactSavills
+44 (0) 20 7409 8844
Jeremy Helsby, Group Chief Executive
Simon Shaw, Group Chief Financial Officer
Tulchan Communications
+44 (0) 20 7353 4200
John Sunnucks
Peter Hewer
INTERNATIONAL NEWS
Visit our corporate site for international news.