Savills group H1 revenues top £Bn mark – Business Weekly

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Global real estate adviser Savills which has thriving operations in Cambridge,  Ipswich, Norwich and Chelmsford, posted first-half result to June 30 comfortably ahead of pre-pandemic levels.
Group revenue topped a billion pounds – £1,037.4m – after an 11 per cent increase year-on-year and although pre-tax profit was substantially lower at £50.4m, down from £63.3m last time, Savills has more net cash (£149m as against £106.7m) and has decided to increase the interim dividend from 6p to 6.6p per share.
A particular highlight was commercial transaction revenue which increased 26 per cent with growth across all regions.
Mark Ridley, group chief executive of Savills plc, said: “2022 has presented a number of heightened macro-economic, geopolitical and, in some locations, continued Covid-related risks to investors, corporates and to many people’s personal lives.
“Despite staff cost inflation and the anticipated increase in discretionary costs we have performed well so far this year in line with the board’s expectations. With our strong balance sheet we are continuing to undertake a variety of business development activities across the group to enhance our service to clients worldwide.
“There remains significant investor interest in the secure income characteristics of real estate and occupiers are progressively focusing on improving the sustainability characteristics of their portfolios as well as creating environments in which staff can thrive.”
Tom Fraser, head of office for Savills Cambridge, said the team had thrived as businesses continued to be attracted to Cambridge – especially with regards to the acceleration of the life sciences sector which, he said “bodes well for the future success of the city.”
He revealed that Savills Cambridge had “several exciting projects set to launch before the end of the year and we head into autumn on a strong footing.”
Other local office heads – Tom Orford in Ipswich, Stephen White in Chelmsford and Mark Little in Norwich  all reported strong progress across commercial, residential and land activities.
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