Pre-Close Trading Update

RNS Number : 3566L

Savills PLC

11 January 2016

 



11 January 2016                                                                                                                       

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 2015.

The Group experienced a strong finish to the year with the completion of some significant commercial transactions in several of our businesses around the world.

In addition, on 31 December 2015, Savills Investment Management division completed the disposal of the substantial Berlin-based "Potsdamer Platz" assets on behalf of the SEB ImmoInvest Fund. This transaction is part of the liquidation of a number of German Open Ended Funds managed by the former SEB Investment Management business, which was acquired on 31^st August 2015. The Potsdamer Platz transaction occurred earlier than originally anticipated, which led to a stronger than expected performance from the Savills Investment Management business in 2015.

Accordingly, the Group now anticipates that underlying results for the year to 31 December 2015 will be ahead of our previous expectations.

In the light of heightened uncertainty over global economic prospects and rising interest rates, we expect a tempering of the strong transaction volumes of recent times in certain markets, notwithstanding that market fundamentals remain sound. Accordingly we retain our original expectations for 2016.

Savills will report 2015 full year results on 10 March 2016.

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 statements in this announcement are forward-looking statements relating to the Group's operations, performance and financial position based on current expectations of, and assumptions and forecasts made by, management.  They are subject to a number of risks, uncertainties and other factors which could cause actual results, performance or achievements of the Group to differ materially from any outcomes or results expressed or implied by such forward-looking statements. The Group's principal risks are described in the 2014 Savills plc Annual Report which can be viewed online at http://www.savills.com. Such forward looking statements should therefore be construed in light of such risks, uncertainties and other factors and undue reliance should not be placed on them. They are made only as of the date of this announcement and no representation, assurance, guarantee or warranty is given in relation to them including as to their accuracy, completeness, or the basis on which they are made.  No obligation is accepted to publicly revise or update these forward-looking statements or adjust them as a result of new information or for future events or developments, except to the extent legally required. Nothing in this Statement should be construed as a profit forecast. 

 

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