I have always had a high opinion of Savills as a business. The company took full advantage of the favourable conditions in property markets over much of the past 16 years with turnover growing from £23.7m in 1992 to £651m in 2007 and profits growing from a loss of £2.86m to a profit of £85.9m driving a share price increase from around 20p to over 700p at the peak.
Not surprisingly the credit crunch and the collapse in property transactions in recent months has hit performance but it is increasingly clear that this UK listed firm is going to be bloodied but unbowed by the experience and will be all the stronger in the next bull cycle.
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