AGM Statement and Interim Man

RNS Number : 3575L

Savills PLC

05 May 2010

 



5 May 2010

SAVILLS PLC

("Savills" or "the Company")

AGM Statement and Interim Management Statement

Savills plc, the international real estate advisor, is today holding its Annual General Meeting (AGM) at 12 noon, 20 Grosvenor Hill, Berkeley Square, London W1K 3HQ and provides the following Interim Management Statement (IMS) for the period to 5 May 2010.

The pattern of trading that we reported at our full year results in March has continued. The first four months of the year have seen good trading performances from both our UK Residential and Asia Pacific businesses, and continued improvement in the UK Commercial market. The Continental European business has traded in line with our expectations of gradual improvement. Other business sectors are also performing broadly in line with our expectations.

As anticipated, there has been some evidence of slowing in activity in the UK markets in advance of the General Election, albeit in the context of a stronger than anticipated performance over the first quarter. In China, a significant contributor to our Asian business, there are signs that the Chinese government may look to take further action to stem rises in residential values. It is uncertain how these events will affect our cautious view about the potential performance of Asian markets in the second half of 2010. We would expect that greater clarity on market direction will have emerged by the time of the announcement of our interim results in August.

In the meantime, we are pleased with the overall performance of the group and continue to pursue our strategy of growing the business profitability, both organically and through selected investment opportunities as they arise.

For further information, contact:

Savills    020 7409 8844

Jeremy Helsby, Group Chief Executive

Simon Shaw, Group Chief Financial Officer

Tulchan Communications    020 7353 4200

Peter Hewer

Matthieu Roussellier

 

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