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Savills reports strong H1 results amid slowdown in market

Savills plc is reporting a strong first half result showing pre-tax profit of 19.9m, up 15 per cent on 2004 results.

The property group’s interim results to June 30, 2005 show a turnover of 158.2m up 12.7 per cent on 2004 results.

Basic earnings per share for the period rose from 23.5p last year to 23.9, while adjusted basic earnings per share increased by 12.7 per cent to 23.9p, from 21.2p in 2004, after adjusting for the one-off impact of the IFRS credit realting to share based payments.

Savills plc chairman Peter Smith says: “I am delighted to report a strong set of half year results with particularly good performance in the commercial markets both in the UK and overseas. The UK prime residential markets had a slower start to the year but the market improved in Q2 especially in London.”


IF slashes two-year offset deal to 4.99%

Intelligent Finance is reducing its Offset 80 tracker mortgage two-year discounted rate by 0.4 per cent, to 4.99 per cent. The company says the move shows it going one step further than its decision earlier in the month to pass on the Bank of England’s 0.25 per cent base-rate cut to all its variable mortgage […]

Derbyshire (IoM) launches new 18-month fixed rate bond

The Derbyshire (Isle of Man) is launching a new 18-month fixed rate bond.The new 18-month Manx bond from the Derbyshire is paying a guaranteed rate of 4.55 per cent gross/AER. This rate, along with the other fixed rate options of the 1-year Manx bond at 4.60 per cent, 3-year Manx bond at 4.50 per cent […]

City fund manager joins Morrisons board

Former Deutsche Asset Managment European chief executive Paul Manduca is to join the board of supermaket chain Wm Morrison as a non-executive director. Manduca, who ran Rothschild Asset Management and built up Threadneede, is viewed as a potential succesor to the supermarket’s chairman Ken Morrison.

Network plea for misselling definition

Retrospective misselling com- pensation campaigns are “festering sores” that blight the industry, says Alpha to Omega network chief executive Stewart Wooles. He is calling for a clear and legal definition of misselling, saying the FSA’s treating customers fairly policy can result in advisers being treated unfairly, particularly with retrospective regulation changes. Wooles believes that enc- […]


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