Savills plc, the international property adviser, reported a small increase in pre-tax profits for the first half and that it is well placed to achieve a good result for the year as a whole.
Peter Smith, Chairman of Savills plc, comments: 'I am delighted to report a strong set of half year results with particularly good performance in the commercial markets both in the UK and overseas. The UK prime residential markets had a slower start to the year but the market improved in the second quarter especially in London. Asia had a very strong first half. The growing spread of Savills' business both on a geographical and product basis gives us confidence that we are well placed to achieve a good result for the full year.'
Interim results prepared under IFRS for the six months ended 30 June 2005:
- Group revenue for the six months was up 12.7% at £158.2m (2004 £140.3m)
- Group profit before tax increased to £19.9m (2004 £19.1m)
- Adjusted Group profit before tax* increased by 15.0% to £19.9m (2004 £17.3m)
- Basic earnings per share increased to 23.9p (2004 23.5p)
- Adjusted basic earnings per share* increased by 12.7% to 23.9p (2004 21.2p).
- Interim dividend increased to 8.0p (2004 6.0p)