17th Dec 2009 07:00
17 December 2009
Savills plc
2009 Trading Update
Savills plc, the international real estate advisor, publishes the following update on its outlook for 2009:
In recent weeks we have seen:
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continued strength in the transaction markets of the Asia Pacific region at a time when we were anticipating a degree of cooling of the market; |
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an increase in transactions in the UK Commercial market which are likely to complete before year end; and |
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a higher than expected level of transactions in the UK prime residential market. |
We have also achieved cost savings at the higher end of our anticipated range. The combination of these factors means that we expect Savills' underlying performance for 2009 to be significantly ahead of our previous expectations. However we remain cautious about the sustainability of the current performance of UK residential and Asia Pacific transaction markets in 2010.
For further information contact:
Savills 0207 409 8844
Jeremy Helsby, Group Chief Executive
Simon Shaw, Group Chief Financial Officer
Tulchan Communications 0207 353 4200
John Sunnucks
Peter Hewer
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