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Savills PLC said on Thursday it delivered record revenue and profit in 2021, reflecting recovery in its residential and commercial transactional markets.
In 2021, the London-based real estate company more than doubled pretax profit to £183.1 million from £83.2 million in 2020, while revenue increased 23% to £2.15 billion from £1.74 billion.
Savills noted that the revenue increase was driven by strong trading in the final quarter, led by the UK and Asia Pacific region.
In the full year, Transaction Advisory revenue increased 34% while Consultancy and Property Management grew revenue by 24% and 9% respectively. The UK Residential Transaction Advisory business delivered a record performance with a revenue increase of 38%.
The company declared a final dividend of 12.75 pence, up from 17.0p a year before. Savills also proposed a one-time special dividend of 27.05p in view of its strong recovery, with this being similar to the 2019 final ordinary and supplementary dividends that were cancelled as Covid-19 took hold.
Chief Executive Mark Ridley said: ‘Savills delivered a record performance in 2021 reflecting the significant recovery in both residential and commercial transactional markets supported by growth in our less transactional Investment Management, Property Management and Consultancy businesses.
‘The group has started 2022 in line with our expectations and the strength of our balance sheet supports our growth strategy to pursue further complementary acquisitions and significant recruitment across our global business.’
Shares in Savills were up 4.4% at 1,190.00 pence on Thursday morning in London.
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