Profits up for Savills

The international real estate advisor with offices across the North West announced a 28% increase in underlying profit before tax in the past year to £75.2m, up from £58.6m in 2012.

In the preliminary results released to the stock market on Thursday, revenue for the period to 31 December 2013 was up 12% to £904m, from £806.4m in the previous year.

Total dividend for the year was up to 19% resulting in a 19p pay out per share, a 3p improvement on 2012.

Peter Mallinder, head of Savills' northern region business development board, said: "Savills Manchester appointed a number of additional key recruits in both our commercial and residential teams throughout 2013 and expect this to continue in 2014 as we look to augment our success and increase our market share within the region."

UK commercial transactions profits increases by 58%, which the annual report said reflected "a progressive recovery in the regional markets."

Savills has offices in Manchester, Liverpool, Chester and Wilmslow. In January, Savills absorbed Chester-based leisure specialist Charles F Jones & Son.

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