Savills PLC (LON:SVS) expects underlying results for 2019 to be at the upper end of guidance thanks to “excellent” UK performance, “significant” growth in the US and a “strong” year in its investment management arm.
Market share increased in two of its key markets, UK and Hong Kong, despite lower volumes of activity generally due to uncertainty and disruption respectively.
"The strength of Savills positions in both markets contributed to a resilient performance through increased market share, despite lower volumes of activity generally," it said.
The wider Asia Pacific business, however, performed “slightly” below expectations, while Continental Europe was in line with guidance and North America improved year-on-year.
Expectations for 2020 remain unchanged as the UK is progressing towards a clearer political situation although other markets still face macro-economic uncertainties.
The real estate firm said global investor demand for secure income, restricted supply and expectations of continued low-interest rates suggest positive dynamics in the UK market, although caution remains until Brexit is executed.
Shares rose 5% to 1,207p in early morning trades.
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