2023: Savills reports a 64% drop in pre-tax profits due to a subdued global property market and restructuring costs.
Estate agency Savills reports a 64% drop in pre-tax profits, citing an "extremely subdued" global property market and restructuring costs. The company's profits fell to £55.4m in 2023 from £153.9m in 2022, with sales volumes at their lowest levels for a decade due to higher interest rates and world events. Savills' profit before tax dipped 42% to $121.32m in 2023, and the company anticipates a broader recovery in the second half of this year and into 2025.
March 14, 2024
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