January 13, 2020 / 7:22 AM / 12 days ago

Savills sees annual results at upper end of view as election uncertainty wanes

Jan 13 (Reuters) - Real estate services provider Savills Plc said it expects annual underlying results to be at the upper end of its expectations as its British business saw a pick up in both commercial and residential markets after the general elections.

The effect of Brexit and political uncertainty suppressed market activity until mid-December, but the clear outcome of the general election helped a strong close to the year as confidence to transact returned to the market, Savills said on Monday.

The company, which also reported significant growth in its U.S. business in the year ended Dec. 31, said political unrest severely reduced the volume of trading activity in Hong Kong from the middle of the year and continues to do so. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D’Silva)

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