Savills plc, the international real estate advisor, has announced its preliminary results for the year ended 31st December 2021.
The key financial highlights are group revenue up 23% to £2.15bn (2020: £1.74bn) and reported profit before tax up 120% to £183.1m (2020: £83.2m).
Geri O’Brien (pictured), head of office at Savills Jersey, said: “We have gone from strength to strength in the last year. Our residential sales team have completed several significant deals and reported record transactions across the board. This year has started in a similar vein and we look forward to continuing to support our clients and grow our business further over the coming months. The property market in Jersey remains incredibly strong and demand continues to outstrip supply.”
Tony Rowbotham, head of office for Savills Guernsey, comments: “2021 was a tremendous year for the Guernsey office with success across both the commercial investment sector as well as in open and local market residential sales. I am very grateful to our team’s loyalty, hard work and dedication, which has been the cornerstone of our success. I must also thank our clients, both those who were new to us in 2021 but also to those who return to us time and time again.”
Commenting on the results, Mark Ridley, Group Chief Executive, 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 war in Ukraine has shocked the world and, in response, Savills is providing support both through international charities and via our Polish operation, focussing particularly on Ukrainian refugees. Our thoughts are with everyone affected in the region and we can only hope for a peaceful resolution as quickly as possible.
“At this stage it is too early to predict the economic, including longer term inflationary, impact of the Ukrainian crisis on the world’s real estate markets. Subject to this key uncertainty, we would anticipate real estate transaction volumes and discretionary spend to normalise in the year ahead, alongside the continued recovery of global markets as they emerge from pandemic-related disruptions.
“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.”
