Savills First-Half Profit Jumps 47% as North America Swings to Profit After Eastdil Deal

LONDON — Global real estate advisor Savills reported a 47% rise in underlying pretax profit to £34.3 million ($46.24 million) for the six months ended June 30, driven by a sharp turnaround in North America and strong U.S. demand for alternative asset classes.

North America was the standout performer, swinging to an underlying profit of £2.6 million from a £6.5 million loss a year earlier. The improvement was buoyed by restructuring benefits, strong leasing activity and robust merger-and-acquisition activity in the United States.

The rebound came as Savills completed its $1.1 billion acquisition of U.S. real estate investment bank Eastdil Secured in July, a deal that expanded the group’s U.S. and capital-markets presence.

Robust investor appetite for data centers, industrial assets and senior living in the United States also helped offset weaker sentiment in the company’s other markets.

Savills said the escalation of the Middle East conflict and political change in the UK had left investors wary of higher interest rates, weighing on activity in its key domestic market. The company cautioned that while its transactional pipelines were growing, persistent macroeconomic volatility made it hard to predict when those deals would convert into revenue.

“Although transaction timelines are hard to predict in the current environment, I am confident that we are well positioned to deliver value to our clients,” Chief Executive Simon Shaw said.

The firm reaffirmed its 2026 expectations for the enlarged group, including the newly acquired Eastdil Secured.