There were new recruits across the board and office and industrial markets are particularly hot, James Evans said
There were new recruits across the board and office and industrial markets are particularly hot, James Evans said

Savills’ turnover and profits up

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.

 

Your Comments

Well done, Jim.

By Evan James

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