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Investing.com -- International real-estate advisor Savills (LON:SVS) reported on Thursday an increase in both pretax profit and revenue for 2024, signaling a continued recovery in the real estate markets into 2025.
The company’s pretax profit for the year reached 88.3 million pounds ($114.5 million), a significant increase from the 55.4 million pounds reported in 2023.
Additionally, Savills’ revenue rose to 2.40 billion pounds, up from 2.24 billion pounds.
The company’s transaction advisory revenue saw a 16% increase at constant currency. However, Savills’ investment management revenue saw an 11% decrease, a decline that the company had predicted.
Chief Executive Mark Ridley commented on the market situation, stating, "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."
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