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Cost savings boost revenue at Savills

By Daily Mail Reporter
Updated: 03:59 EDT, 18 November 2009

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Estate agent Savills is on course to meet its forecast of a £17m profit for the year, it said yesterday.

The firm said £60m cost savings had allowed it to continue investing 'without adversely affecting' performance expectations.

Strong volumes in the Asia-Pacific region offset slow business in Europe, but it added that the Asian rally was unlikely to be sustainable.

Savills posted pretax profits of £33.2m for the full year in 2008.

The shares fell 4.4p to 325.8p.

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