LONDON (dpa-AFX) - Savills plc. (SVS.L) anticipates that underlying results for the year to 31 December 2018 will be in line with the Board's expectations. It currently expects that the Group's performance in 2019 should be broadly consistent year-on- year.
In its trading update for the year ended 31 December 2018, the comoany said the UK delivered a resilient performance in the Commercial Transaction businesses in an environment of relatively robust occupier demand and continued strong investment interest, particularly from the Asia Pacific region, albeit that the market volume of trade declined in comparison with 2017.
The company noted that Asia Pacific and Continental European transactional businesses performed as anticipated, with particularly strong results from Hong Kong, Singapore, Korea, Ireland and Germany. In addition we benefited from an encouraging maiden year performance from Savills Aguirre Newman in Spain.
In the US, the company delivered significant growth in the Occupier Service business (including tenant representation brokerage). This led to an improved performance overall for the year, even after the continued costs of investment in the business including significant investment in management and in central office platform.
Savills noted that it will report 2018 full year results on 14 March 2019.
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