Shares in Savills PLC surged 5.4% on Friday after the UK-based property adviser reported first-half earnings that exceeded market expectations.
The London-listed company posted pre-tax profit of £120.4 million for the six months to June 30, up from £98.7 million a year earlier. Revenue rose 11% to £1.1 billion, driven by strong performance in its valuation and advisory divisions.
Analysts at Jefferies had forecast pre-tax profit of £112 million, while consensus estimates compiled by the company pointed to £115 million. Savills said the results reflected resilient demand across its global markets, particularly in Asia and Europe.
The company maintained its full-year guidance, reaffirming a pre-tax profit target of £240 million to £260 million, assuming stable economic conditions. Savills also declared an interim dividend of 12.5 pence per share, a 5% increase from the prior year.
The stock, which had already climbed 15% this year, reached its highest level since October 2022 following the announcement. Investors welcomed the upbeat outlook despite ongoing macroeconomic uncertainties, including elevated interest rates and geopolitical tensions.
Savills operates in over 60 countries, offering services in property management, valuation, and investment advisory. Its shares are listed on the London Stock Exchange under the ticker SVS.
