Business
Pre-close Trading Update
Pre-close Trading Update.
About this update from Savills Plc
[{"type":"text","content":"\n \nRNS Number : 9364B Savills PLC 16 January 2018 \n\n16 January 2018 \nSAVILLS PLC\n(\"Savills\" or the \"Group\")\n \nPre-Close Trading Update\n \n \n \nSavills plc, the international real estate advisor, publishes the following Pre-Close trading update in respect of the year to 31 December 2017.\n \nThe Group experienced a stronger than anticipated finish to the year in a number of our businesses around the world. In addition to substantial commercial transaction volumes in both the UK and a number of Asian and European markets, the relative resilience of Savills UK Residential transaction business, which achieved year-on-year revenue growth in challenging markets, was of particular note. Accordingly, the Group now anticipates that underlying results for the year to 31 December 2017 will be ahead of our previous expectations.\n \nIn the UK, we saw increased market share in commercial transactions, primarily as a result of relatively robust occupier demand and continued strong investment interest from the Asia Pacific region. Our Less Transactional businesses, both in the UK and globally, performed in line with our expectations.\n \nOur Asia Pacific and Continental European transactional businesses have performed ahead of our expectations, with particularly strong results from Hong Kong, China, Australia, Japan, Ireland, Spain and the Netherlands. Improvements in these countries and in the UK more than offset a decline in the US business due, in part, to continued occupier uncertainty particularly in respect of Government-related transactions, and to the cost of our newly recruited Cap...