Savills reported profit growth in 2024 despite a challenging market, supported by an increase in office attendance and a recovery in transactional markets.
The company’s revenue rose by 7% to £2.4bn, while underlying profit before tax increased by 38% to £130.4m.
Reported profit before tax rose by 59% to £88.3m.
Underlying basic earnings per share increased by 20%, and reported basic earnings per share grew by 31%.
The total dividend per share rose by 32%, and net cash increased by 12% to £176.3m.
The transactional advisory business contributed to the growth, with revenue increasing by 13%.
The global residential division recorded a 6% rise in revenue.
Consultancy, property, and facilities management saw growth of 8% and 5%, respectively.
Savills Investment Management revenue fell by 11%, with assets under management decreasing slightly from £22.1bn to £21.7bn.
Mark Ridley, group chief executive, commented: “Savills improved performance in 2024 reflects the robust earnings provided by our less transactional businesses together with the effect of our inherent operating leverage in the early recovery of transactional markets.
“Most markets were in recovery as we entered 2025 and, whilst uncertainty continues, there remains the expectation of reductions in the cost of capital during the year.
“We expect re-financing driven activity and the trend towards corporates requiring greater office attendance for staff to continue to be positive for transaction volumes.
“Savills remains well positioned to deliver against the Group’s strategic objectives of broadening our offering to clients across geographies and service lines, supported by a strong balance sheet and thus driving profitability as market recovery continues.”
