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£1.9M loss for Savills FS arm

The financial services division of Savills made a loss of £1.9m in 2010 after a loss of £2.9m in 2009.

The financial services arm saw a 16 per cent drop in revenue, from £11.2m to £9.4m.

But group profits leapt by 173 per cent to £36.8m from. Group revenue rose by 21 per cent to £677m from £560m.

Total dividend is 13p per share, a 44 per cent increase on the 9p paid in 2009.

Group chief executive Jer- emy Helsby says: “We are well placed, thanks to our core strengths in both the commercial and prime residential sectors, to meet the developing needs of our worldwide client base.”

First Action Finance head of communications Jonathan Cornell says: “It just shows it is a very hard market to operate in. There is a great management team there and the financial services arm is backed by the parent com- pany so I would say the future looks good.”

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