Strong performance from the property advisor’s Manchester office helped lift group turnover and profits in 2015.
Group revenue rose 19% to £1.3bn compared to £1.1bn in 2014. Pre-tax profit was similarly up 16% to £98.6m.
James Evans, head of Savills Manchester, which employs 180 people, said: “Last year saw a strong performance from all of our commercial and residential departments as Manchester continued to lead the way among the regional property markets. As a result, we welcomed new recruits to our retail, property management and various other teams. The city’s office market remains very hot and Savills completed four of Manchester’s top five Grade A deals, including landmark lettings at One St Peter’s Square and First Street.
“Across the North West industrial take up reached a record high of 4.56m sq ft, with Savills also acting on four of the region’s five biggest transactions including a 400,000 sq ft letting to Nice-Pak in Wigan. Manchester’s investment market also remained strong, as demonstrated by our sale of a 50% stake in the £500 million MediaCityUK scheme to Legal & General last year.”
Underlying basic earnings per share grew 14% to 63.2p. London-listed Savills recommended a total dividend for the year up 13% to 26.0p per share (2014: 23.0p). Shares rose slightly to 663p.