Business
Year end Trading Update
Year end Trading Update.
About this update from Savills Plc
[{"type":"text","content":"\n \nRNS Number : 5027Z Savills PLC 13 January 2020 \n\n \n13 January 2020 \nSAVILLS PLC\n(\"Savills\" or the \"Group\")\n \nYear-End Trading Update\n \n \n \nSavills plc, the international real estate advisor, publishes the following trading update in respect of the year ended 31 December 2019.\n \nThe Group has delivered a full year performance reflecting both the robustness and geographic diversity of our market positions generally, and the strength of our less transactional businesses.\n \nSavills has shown considerable resilience in a year which exposed the Group to significant challenges in the UK and Hong Kong, two of our key markets. In the UK, the effect of Brexit and political uncertainty suppressed market activity in both Commercial and Residential transactional markets until mid-December. The clear outcome of the General Election prompted a strong close to the year as confidence to transact returned to the market. In Hong Kong, the political unrest severely reduced the volume of trading activity from mid-year and continues to do so. The strength of Savills positions in both markets contributed to a resilient performance through increased market share, despite lower volumes of activity generally. \n \nThanks largely to an excellent performance in the UK, significant year-on-year growth in the US and a strong performance from Savills Investment Management, the Group anticipates that underlying results for the year to 31 December 2019 will be at the upper end of the Board's expectations.\n \nDespite the b...