Source: Sharecast
Real estate advisor Savills reversed earlier gains as it reported a rise in first-half profit and revenue, pointing to a strong first-quarter performance but a more subdued transactional market in the second quarter.
In the half year to 30 June, reported pre-tax profit jumped 78% to £15.8m, while underlying pre-tax profit was 10% higher at £23.3m.
Revenue rose 6% on the same period a year earlier to £1.1bn and the interim dividend was lifted 4% to 7.4p a share.
Revenue grew 9% in EMEA and 5% in APAC, but was down 6% in North America.
The real estate advisor said transaction advisory revenue ticked up 2%, reflecting a strong recovery in Q1 which slowed in the second quarter.
Shares in Rank Group were sliding, even after it reported a sharp rise in annual revenue and profit on Thursday, underpinned by strong returns on targeted investments and aided by the passing of land-based casino reforms.
For the year ended 30 June, like-for-like net gaming revenue (NGR) rose 11% to £795.3m, with all business segments in growth.
Underlying like-for-like operating profit increased 38% to £63.7m, lifting operating margins to 8% from 6.5%.
Statutory operating profit jumped to £67.0m from £29.4m, while profit before tax surged 248% to £53.9m.
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