Savills, UK real estate adviser, reports significant profit decline, shares plummet.
(Reuters) – Savills Plc posted a sharp drop in half-yearly profits on Thursday as rising interest rates hit trading volumes, sending the British real estate adviser’s shares down nearly 9%.
The company said group underlying profit before tax fell to 16.3 million pounds ($20.8 million) in the six months ended June 30, from 59.2 million pounds in the same period last year.
($1 = 0.7835 pounds)
(Reporting by Eva Mathews in Bengaluru; Editing by Savio D’Souza)
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