Savills celebrates 20% increase in turnover
FDP Savills, business transfer agents with a healthcare division, have reported a sparkling set of results to the year end December 2002. Turnover was up by 20 per cent to Â£282m (2001: Â£235m). Pre-tax profit was Â£24.7m, up 17 per cent on 2001 (Â£21.6m). Group operating profit margins were 10 per cent compared to 8 per cent in 2001. The healthcare team has seen an increase in activity made possible by lower interest rates and greater availability of bank funding. The team has advised on 190 healthcare properties with valuations and sales in the order of Â£240m. Notable instructions included the purchase of Highcare by Ridgemount for Â£12.75m, and the acquisition of Elifax by Robinia Care.