Pre-Close Trading Update

RNS Number : 1970C

Savills PLC

15 January 2015

 

15 January 2015

SAVILLS PLC

("Savills" or the "Group")

Pre-Close Trading Update

Savills plc, the international real estate advisor, publishes the following Pre-Close trading update in respect of the year to 31 December 2014.

In the trading update issued on 18 November 2014, the Group advised that, as a result of a robust performance for the year to date, anticipated underlying results for the year would at least meet our previous expectations.

In December, strong performances across our transactional businesses resulted in revenue and profits significantly exceeding our previous forecasts for the month. These were driven primarily by: the completion of a number of sizeable transactions in UK and European Commercial markets, which led to a stronger finish to the year than anticipated; the rise in Stamp Duty on high value UK residential transactions which caused a short term increase in trading volumes; and, in the Investment Management business, the successful close of a new Nordic Logistics Fund earlier than anticipated, which also brought forward revenue from Q1 2015.

Accordingly, the Group now anticipates that underlying results for the year to 31 December 2014 will be well ahead of our previous expectations.

For 2015, we retain our cautious stance particularly on the performance of the UK Residential market in the first half of the year, as a result of continued uncertainty around the UK General Election, and the timing of a sustainable recovery in Hong Kong.

Savills will report 2014's full year results on 19 March 2015.

For further information, contact:

Savills    020 7409 8934

Jeremy Helsby, Group Chief Executive

Simon Shaw, Group Chief Financial Officer

Tulchan Communications    020 7353 4200

Peter Hewer

Forward looking statements

Certain information included within this statement is forward-looking and by its nature involve risks and uncertainties because it relates to events and depends on circumstances that will occur in future. 

Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions, market estimates, the Company's plans and objectives for future operations, including future revenues, financial plans and expected expenditures and divestments.

There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements including a number of factors outside the Company's control. All forward-looking statements in this statement are based upon information known to the Company on the date hereof. The Company gives no undertaking to update forward looking statements whether as a result of new information, future events or otherwise.

 

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