Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSavills Share News (SVS)

Share Price Information for Savills (SVS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,108.00
Bid: 1,108.00
Ask: 1,110.00
Change: 8.00 (0.73%)
Spread: 2.00 (0.181%)
Open: 1,128.00
High: 1,128.00
Low: 1,100.00
Prev. Close: 1,100.00
SVS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Savills Annual Performance Dependent On Transactional Market Recovery

Thu, 25th Jun 2020 09:55

(Alliance News) - Savills PLC said Thursday, ahead of its annual general meeting, that its performance for 2020 is dependent on how much regional transactional markets recover in the second half, following the Covid-19 outbreak.

The FTSE 250 real estate advisor said the pandemic has had a significant impact on global real estate markets, starting from the Asia Pacific region. The impact of lockdowns around the world, including the prohibition on site viewings has led to a significant reduction into the volume of transactional activity which could be conducted.

However, the less transactional businesses of Consultancy and Property Management have performed well to date, with improved revenue and profitability over the year before mitigating the effect of reduced transactional activity.

Regionally, in Asia Pacific, there was reduced advisory activity in Greater China, Japan, Korea and Singapore, however, several of these countries have started to recover in the second quarter as they emerge from lockdown.

In North America, where the group is more dependent on leasing activity by corporate occupiers, Savills said it has been significantly hit by lockdowns in major cities such as New York, Chicago and San Francisco.

Savills's performance remained resilient in the UK, as less transactional businesses continued to trade well, while transactional activity started to recover amid an easing lockdown. Meanwhile, results in Continental Europe were buoyed by strong pipelines in Germany, Spain, the Netherlands and Belgium.

Looking ahead, Savills said its overall performance for the year is highly dependent on transactional markets, however, the wider context for real estate investment is largely positive with the expectation of low interest rates for longer and continued investor demand.

Despite this, the group said the Covid-19 outbreak means that the environment remains highly uncertain, and as a result cannot give any meaningful guidance for the year.

Savills will publish its interim results on August 6.

Shares in Savills were down 2.5% at 809.50 pence on Thursday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
25 Jun 2020 08:12

Savills to be profitable in 2020 despite Covid-19 impact

(Sharecast News) - Savills said it expected to be profitable in 2020 despite the impact of Covid-19 on global property markets and that its debt had fallen.

Read more
18 Jun 2020 16:06

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

Read more
1 Apr 2020 08:39

Savills Pulls Dividend For Now But Could Declare Boosted Payout Later

Savills Pulls Dividend For Now But Could Declare Boosted Payout Later

Read more
1 Apr 2020 07:45

LONDON MARKET PRE-OPEN: UK Banks Scrap Dividends And Buybacks In 2020

LONDON MARKET PRE-OPEN: UK Banks Scrap Dividends And Buybacks In 2020

Read more
1 Apr 2020 07:39

Savills pulls dividend payouts

(Sharecast News) - Real estate agent Savills said it was pulling its final and supplemental interim dividends to save cash in response to the coronavirus pandemic.

Read more
13 Mar 2020 13:17

Friday broker round-up

(Sharecast News) - Balfour Beatty: UBS upgrades to buy with a target price of 350p.

Read more
12 Mar 2020 09:02

Savills Profit Rises In 2019 As Less-Transactional Businesses Prosper

Savills Profit Rises In 2019 As Less-Transactional Businesses Prosper

Read more
12 Mar 2020 07:49

Savills posts rise in revenue, steady profits

(Sharecast News) - Savills reported steady full-year profits and an increase in revenue on Thursday as it announced the acquisition of US project management firm Macro Consultants and cautioned over the impact of the coronavirus.

Read more
5 Mar 2020 16:07

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
27 Feb 2020 17:56

EXECUTIVE CHANGE SUMMARY: Burford Capital Adds Independent Directors

EXECUTIVE CHANGE SUMMARY: Burford Capital Adds Independent Directors

Read more
3 Feb 2020 10:40

UK WINNERS & LOSERS SUMMARY: Future Rebounds From Short-Seller Hit

UK WINNERS & LOSERS SUMMARY: Future Rebounds From Short-Seller Hit

Read more
3 Feb 2020 09:24

UK BROKER RATINGS SUMMARY: Goldman Sachs Likes Hiscox Among Insurers

UK BROKER RATINGS SUMMARY: Goldman Sachs Likes Hiscox Among Insurers

Read more
13 Jan 2020 17:05

UPDATE 2-FTSE 100 climbs as U.S.-China trade deal nears; midcaps outshine

* FTSE 100 up 0.4%, FTSE 250 up 0.7%* U.S.-China trade deal back in focus* Midcaps boosted by BoE rate-cut hopes* Pennon, Spirent also support FTSE 250* Housebuilders gain after upbeat view from Savills (Adds company news items, updates share moves)...

Read more
13 Jan 2020 16:56

LONDON MARKET CLOSE: FTSE Outperforms As Pound Dips After UK GDP Data

LONDON MARKET CLOSE: FTSE Outperforms As Pound Dips After UK GDP Data

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.