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BRIEF-Savills says expects full-year results to be ahead of expectations
January 12, 2017 / 7:26 AM / 9 months ago

BRIEF-Savills says expects full-year results to be ahead of expectations

Jan 12 (Reuters) - Savills Plc

* Group experienced a strong finish to year with completion of significant volumes of commercial and residential transactions in a number of our businesses around world

* Across group our less transactional businesses performed in line with our expectations and devaluation of sterling against major currencies

* Against backdrop of heightened uncertainty over global economic prospects, geopolitical risks and rising bond yields, we expect a tempering of strong transaction volumes of recent times in many markets.

* We retain our original expectations for 2017.

* In uk, we saw increased market share in commercial investment transactions, primarily as a result of post-referendum interest emanating from overseas.

* In addition, notwithstanding a slower december, our uk residential business performed rather better than anticipated, with top end of market showing similar currency-related drivers of investment activity from international buyers.

* Group now anticipates that underlying results for year to 31 december 2016 will be meaningfully ahead of our previous expectations. Source text for Eikon: Further company coverage: (London newsroom)

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