Savills (#SVS) – 2022 adj. EPS -19%, ordinary DPS edged up to 29p, notes “challenging markets”
- 2023-03-16 07:29:24
I don’t think I have ever written before about Savills (SVS) which - amusingly - describes itself as “one of the world's leading property advisors…Savills services span the globe, with 39,000 experts working across 600 offices in the Americas, Europe, Asia Pacific, Africa and the Middle East”. How marvellous, especially over the last decade or two. Congratulations then over the last twenty years if you have made twenty times your initial investment on the shares (which is way better than even the average house price). All good…until it isn’t!
Estate agents and housebuilders plummeted after Britain voted to leave the EU, as the chances of a slump in the property market were seen by some as having increased as a result of that outcome. I have no doubt that some companies in these sectors will be badly hit, especially those whose business is focussed around higher end properties in London, such as Foxtons, but for others I see the recent drops in share price as presenting a buying opportunity, especially when taking a longer term view.