Patrick Joynson Savills

Profits up for Savills

The international real estate advisor with offices across the North West announced a 34% increase in underlying profit before tax in the past year to £100.5m, up from £75.2m in 2013.

In the preliminary results released to the stock market this morning, revenue for the period to 31 December 2014 was up to £1.1bn, from £905m in the previous year.

Total dividends were up 24% to 19.25p per share, a 4p improvement on 2013.

The annual report credited the record revenue in the UK to "a strong London performance and recovery in the regions".

Patrick Joynson, head of Savills in Manchester, said: "With Manchester at the forefront of the improving regional markets, last year saw a strong performance across all departments.

"The investment team handled 40% of Manchester's £1bn of office transactions and the office agency team completed four out of five of the largest letting deals in the city, including Barclays Bank, DLA and Ford Finance.

"Occupier demand for industrial space was also was strong and we advised on seven of the 10 largest industrial lettings in the North West, including a 210,000 sq ft warehouse let to Mersey Docks & Harbour Company at Atlantic Park, Liverpool."

Savills has offices in Manchester, Liverpool, Chester and Wilmslow.

Shares in Savills were up 2p this morning to 780p.

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