Savills announced that group revenue has risen 10% to £1.93bn in the full-year period ended 31 December 2019.
The estate agency group said that revenue was driven by a “strong performance” in its less transactional business lines, which accounted for 57% of revenue in the year.
Underlying profit before tax remained largely unchanged at £143.4m, down from £143.7m in 2018, while statutory profit before tax increased 6% to £115.6m.
Savills UK profits increased by 7% to £81.9m, led by property management and consultancy, while Savills UK Residential saw revenue increase by 6%.
Less transactional services saw revenue rise by 16%. Property and facilities management revenue also rose by 17%, while consultancy revenue up 15%.
The group’s transaction advisory revenue grew by 2%, led by North America, Europe and the Middle East.
Its “continued growth” in North America was driven by its occupier-focused business, with revenue up 11% and underlying profit up 35% to £17.3m.
Mark Ridley, group CEO, said: “I am very pleased that Savills delivered a good performance in 2019 in some challenging market conditions.
“This reflects the strength and resilience of our global, diversified business as we continue to grow our less transactional service lines and outperform in many of our transactional markets.”
He added: “While we continue to monitor the impact of global uncertainties on investor and occupier demand for real estate, we have made a good start to 2020 with the first two months outperforming the same period last year on all measures.
“As a result of the dynamic situation in respect of COVID-19 it is difficult accurately to predict its impact on our business for 2020 as a whole, although we do expect a greater weighting of activity to the second half of the year.”