Savills reports strong UK & global revenue growth

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Savills saw a 10% jump in global revenues from 2018 to 2019 as the Plc shifts its emphasis from property transactions to "less transactional" services. UK profits increased by 7%, with UK residential revenues climbing by 6% despite tough market conditions.

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Like other property PLCs, Savills' profits have surged this year. The firm's UK Residential Transaction Advisory business posted record revenue in H1, nearly doubling (+97%) compared to last year.
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Sales operations were hit hard by the Coronavirus pandemic in H1. But the Private Rented Sector proved a bright spot for Savills, with "an outstanding performance" seeing revenue jump by 87%.
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"Today we present Purplebricks 2.0," declares CEO Vic Darvey, as the hybrid estate agency sets an ambition to double its market share to 10% of property sales over the next few years.