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Savills sees profit rising in 2018; 'broadly consistent' performance in 2019

Tuesday, 15th January 2019
Real estate advisor Savills said it expected to post growth in both annual revenue and underlying profits after it experienced a 'robust' closing quarter.

Underlying results for the year through December were anticipated to be in line with the company's expectations.

'In addition to maintaining or growing our share of transactional markets, the performance of our less transactional business lines was key to this performance,' Savills said.

'This was achieved against a backdrop of heightened uncertainty through the last quarter as Brexit, US trade policy and higher long term treasury yields -- particularly in the benchmark US 10 year Treasury Bond -- began to have a discernible impact on investor sentiment in a number of markets across the globe.'

Savills said its prospects in 2019 were 'overshadowed by macro-economic and political uncertainties across the world'.

'It is difficult accurately to predict the impact of these issues on corporate expansionary activity and investor demand for real estate,' the company said.

'At this stage, we expect to see declines in transaction volumes in a number of markets, the impact of which, to Savills, should be largely mitigated by growth in our less transactional business lines.'

'Accordingly we currently anticipate that the group's performance in 2019 should be broadly consistent year-on-year.'




Story provided by StockMarketWire.com

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