Savills H1 revenue tops £1bn, but profits shrink as resi income falls
Savills has reported a "strong performance comfortably ahead of pre-pandemic level" in the first half of this year - but revenue from residential transactions has fallen by 11%.
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"The UK prime residential market continued to perform exceptionally strongly through the last quarter," says Savills, "and volumes in the Prime Central London market clearly began to improve.
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The owner of estate agencies including Hamptons and John D Wood "remains positive" despite falling revenues.
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"We expect that the impact of housing market cycles will continue to have a reducing impact on the Group's results," says major property Plc, which owns estate agency brands including Marsh & Parsons.
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