Savills has posted a 6% jump in revenue to £1.13bn in its H1 results, although the real estate group did report a slowdown in Q2 activity.

Publishing its results for the six months to 30 June, the company also announced a 10% rise in pre-tax profit to £23.3m.

Savills said the year “started well” with Q1 performance comfortably ahead of 2024, reflecting progressive recovery in most markets. However, its Q2 saw a slowing of transactional activity, which the group put down to occupiers and investors digesting the “implications of tariffs and geopolitical events”.

One area of growth was in Savills auction business, which it said continued to perform well in both the UK commercial and residential auction markets, selling over £420m of property during the period, a figure up 8% year-on-year.

The company said it would continue to develop its business through “selective recruitment and acquisitions”, supported by a strong balance sheet.

“On the basis of ever stronger transactional pipelines, we believe the slow-down in our core markets will prove to be temporary and I am delighted with the performance of our teams worldwide in helping clients navigate these changing dynamics,” Savills chief executive, Mark Ridley, commented.

“Our less transactional businesses continue to provide a solid platform for the group with a resilient earnings stream. The group's strong balance sheet allows us to pursue business development opportunities in anticipation of market improvement to come.

“Our expectations for the year remain unchanged although the final outturn will clearly depend upon the pace at which our strong pipelines unlock through the second half of the year.”

---