Property boost

Savills marks record figures after strong recovery

Nick Penny
Nick Penny: gained market share

Property agent Savills reported record annual results after a strong recovery in both residential and commercial transactional markets.

Revenue for the year to the end of December came in 23% higher at £2.15bn (2020: £1.74bn).

Underlying profit before tax was up 107% to £200.3m (2020: £96.6m). Reported profit before tax was 120% higher at £183.1m (2020: 83.2m)

The aggregate dividend of 55.4p to be paid in May 2022, includes a one-time special dividend of 27.05p.

Mark Ridley, chief executive, said: “Savills delivered a record performance in 2021 reflecting the significant recovery in both residential and commercial transactional markets supported by growth in our less transactional Investment Management, Property Management and Consultancy businesses.

“The group has started 2022 in line with our expectations and the strength of our balance sheet supports our growth strategy to pursue further complementary acquisitions and significant recruitment across our global business.”

Nick Penny, head of Savills Scotland, says: “Our Scottish business has been able to adapt quickly to emerging trends; from where people want to live, work and invest to how land is owned and managed across Scotland. 

“As a result we have gained market share across the board.  Environmental and social drivers will continue to impact the Scottish real estate sector.  We will remain alert to these changes and look forward to augmenting business growth over the coming months.”

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