Savills H1 Revenue Climbs 6% as Q2 Transactional Activity Slows

Savills (LON:SVS) reported higher revenue and profit for the first half of 2025, but flagged a slowdown in transactional activity in the second quarter as economic uncertainty weighed on deals.

The international real estate adviser said revenue rose 6% year-on-year to £1.13 billion, with underlying profit before tax up 10% to £23.3 million.

Reported profit before tax jumped 78% to £15.8 million. The interim dividend was lifted 4% to 7.4 pence per share.

Growth was driven by the EMEA region, where revenue increased by 9%, and the Asia Pacific region, which rose by 5%, while North America fell by 6%.

Transaction Advisory revenue rose 2% overall, with a strong first quarter offset by a softer Q2 due to “economic and trade policy uncertainty.”

Less transactional businesses performed strongly, with consultancy revenue increasing by 20% and property and facilities management revenue rising by 5%.

Group Chief Executive Mark Ridley said the company's less transactional businesses continue “to provide a solid platform for the Group with a resilient earnings stream.

“Q2 saw a slowing of transactional activity as occupiers and investors digested the implications of tariffs and geopolitical events,” he added. “On the basis of ever stronger transactional pipelines, we believe the slow-down in our core markets will prove to be temporary.”

Savills shares opened higher on Thursday at 995p but slipped 0.3% to 972p. The stock is down 11% year-to-date and 21% over the last 12 months.

The company said its expectations for the year remain unchanged, though the pace of second-half market recovery will determine the final outcome.