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Savills Issues Trading Update; Less Transactional Businesses Continues To Perform Well

Savills Plc (SVS.L) said Covid-19 has had a significant impact on the world's real estate markets, and has significantly reduced the volume of transactional activity which could be conducted. The Group's Less Transactional businesses of Consultancy and Property Management have performed well to date, with improved revenue and profitability over the comparable period in 2019 partially mitigating the effect of reduced transactional activity. The Group's overall performance for the year will be highly dependent upon the extent to which regional transactional markets recover in the second half.

Savills reported that its half year net debt position is on course to be substantially reduced from prior year, with substantial unutilised facilities available to the Group as needed.

The Group expects to announce its interim results for the six months to 30 June on 6 August 2020.

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