SVLPF - Savills: Tough First Half Belies Non-Transactional Strength
The U.K.-based estate agency and property consultancy Savills ([[SVLPF]], [[SVLLY]]) released its half-year results on Thursday.
The Non-Transactional Business is Holding Up Well
As well as its estate agency business, the company is involved in fields such as consultancy and facilities management, which gives it some diversity of revenue streams across the economic cycle.
These held up well - property and facilities management revenue actually improved by 4% versus the equivalent period last year, and even consultancy edged up 1%. Consultancy spending often gets cut in a downturn, so while I am impressed by the