Business
Interim Results
Interim Results.
About this update from Savills Plc
[{"type":"text","content":"\n Savills PLC\n11 September 2007\n\n\n Excellent performance in the first half\n\nSavills plc, the international property consultants, today announces interim\nresults for the six months ended 30 June 2007.\n\n• Group revenue for the six months was up 35% at £284.2m (2006: £211.1m).\n• Group profit before tax increased 7% to £33.2m (2006: £31.0m).\n• Underlying Group profit before tax* increased 27% to £32.5m (2006: £25.6m).\n• Basic earnings per share increased 3% to 17.8p (2006: 17.2p).\n• Adjusted underlying basic earnings per share* increased 25% to 17.4p \n (2006: 13.9p).\n• Interim dividend increased 20% to 6.0p (2006: 5.0p).\n\n\n* After adjusting for share based payments, amortisation of intangibles and\nimpairment of goodwill and profit on disposals\n\n\nPeter Smith, Chairman of Savills plc, comments:\n\n'Savills has performed strongly in the first six months to 30 June 2007 and\ncontinues to trade well. However, tightening credit markets are affecting\ntransactional volumes in the commercial investment markets, primarily in the UK.\nWe believe prime UK residential markets should, however, remain resilient.\nOverall, given the broad spread of our business, we are cautiously confident of\nproducing a good result for the year as a whole, in line with our expectations.'\n\n\n\n *** Chairman's Statement and Interim Results follow ***\n\n\n Savills plc. Registered in England No. 2122174.\n\n Registered Office 20 Grosvenor Hill, Berkeley Square, London W1K 3HQ.\n\n\n\n\n\nFor further information, contact:\n\n\nSavills 020 7409 9923\nAubrey Adams, Group Chief Executive\n\nCitigate Dewe Rogerson 020 7638 9571\nSarah Gestetner\nGeorge Cazenove\n\n\n\nThere will be an analyst presentation today at 9.30 am at 25 Finsbury Circus,\nLondon EC2M 7EE.\n\n\n\n\n\nCHAIRMAN'S STATEMENT\n\n\nRESULTS AND HIGHLIGHTS\n\n\nWe reported in our Trading Update, released on 4 July 2007, that the Group had\nmade a good start to the year. We noted that possible further increases in UK\ninterest rates would continue to affect commercial property values and the\nresultant uncertainty could, in the short term, affect the volume of commercial\ntransactions but should have little effect on prime residential markets; this\nstill remains the case. We also noted that the European and Asian markets were\nless likely to be influenced by the ...