The global real estate advisor said trading was “extraordinarily” strong in its final quarter to 31 December 2021, with the losses of 2020 more than eliminated
Savills PLC (LSE:SVS) said it expects profits for 2021 to be “very significantly” ahead of the upper end of its previous guidance.
The global real estate advisor said trading was “extraordinarily” strong in its final quarter to 31 December 2021, with the losses of 2020 more than eliminated.
It said all its businesses exceeded their forecasts despite the impact of renewed pandemic-related restrictions.
The company’s commercial capital transactions and Prime Residential Agency experienced much stronger completion volumes than previously anticipated, while its Less Transactional businesses also outperformed their previous expectations.
In the UK, Savills (LSE:SVS) traded exceptionally well across all business lines, with a strong performance in the UK prime residential market and improving volumes in the prime Central London market.
But activity is expected to moderate this year due to a shortage of sale stock, the company noted.
The company said its forecast for 2022 is unchanged, as it expects wage costs to rise and discretionary expenditure to normalise
Savills shares climbed 4.62% to 1,381.00p in early trade.
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