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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Savills plc    SVS   GB00B135BJ46

SAVILLS PLC

(SVS)
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Savills sees annual results at upper end of view as election uncertainty wanes

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01/13/2020 | 02:56am EST
A worker puts up at Savills estate agents sign in London

Real estate services provider Savills Plc said it sees its annual underlying results to be at the upper end of its expectations as its British business saw a pick-up in both commercial and residential markets after the general elections.

The effect of Brexit and political uncertainty suppressed market activity until mid-December, but the clear outcome of the general election helped a strong close to the year as confidence to transact returned to the market, Savills said on Monday.

The company, which also reported significant growth in its U.S. business in the year ended Dec. 31, said political unrest in Hong Kong severely reduced the volume of trading activity mid-year and continues to do so.

As pro-democracy protests in Hong Kong stretched from summer into autumn, and are now into winter with little sign of resolution, a surge in migration applications suggests more locals are making plans to leave the special administrative region.

"Looking to the year ahead, increased political stability in the UK should maintain improved sentiment in real estate markets ... Nevertheless, some caution may remain until the full impact of Brexit is better understood," Savills said in a statement.

The company, which was founded in Britain in 1855, also said that certain other global markets continue to be overshadowed by macro-economic and political uncertainties, and Savills' expectations for 2020 remain unchanged.  

Prime Minister Boris Johnson won a resounding election victory in December, leading markets to believe an orderly exit from the European Union was all but certain.

Savills, which works across the Americas, Europe, Asia Pacific, Africa and the Middle East, said in August that uncertainty due to the U.S.-China trade dispute and Brexit led to fewer commercial transactions in Asia and Britain, respectively.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva and Sherry Jacob-Phillips)

Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX -0.52% 535.44 Delayed Quote.0.23%
EURO / BRITISH POUND (EUR/GBP) -0.18% 0.84249 Delayed Quote.-0.16%
S&P AFRICA 40 INDEX -0.75% 166.29 Delayed Quote.-2.57%
SAVILLS PLC -1.29% 1224 Delayed Quote.9.25%
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Financials (GBP)
Sales 2019 1 933 M
EBIT 2019 146 M
Net income 2019 88,8 M
Finance 2019 72,6 M
Yield 2019 2,59%
P/E ratio 2019 20,6x
P/E ratio 2020 19,0x
EV / Sales2019 0,82x
EV / Sales2020 0,92x
Capitalization 1 667 M
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Technical analysis trends SAVILLS PLC
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 3
Average target price 1 030,00  GBp
Last Close Price 12,24  GBp
Spread / Highest target 9 581%
Spread / Average Target 8 315%
Spread / Lowest Target 7 416%
EPS Revisions
Managers
NameTitle
John Jeremy Mark Ridley Group Chief Executive Officer & Director
Nicholas Ferguson Non-Executive Chairman
Simon James Blouet Shaw Group Chief Financial Officer & Executive Director
Timothy George Freshwater Senior Independent Non-Executive Director
Rupert Hugo Wynne Robson Independent Non- Executive Director
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