11 MARCH 2009

Preliminary Statement of Results for the year ended 31 December 2008

Resilient result for Savills in an unprecedented property market

Savills plc, the international real estate advisor, is pleased to announce its results for the year ended 31 December 2008.

Financial Highlights

Underlying Results*

• Revenue: £568.5m (2007: £650.5m)
• Underlying profit before tax: £33.2m (2007: £85.5m)
• Underlying basic earnings per share: 18.1p (2007: 46.1p)
• Year end net cash: £45.7m (2007: £77.5m)

Reported IFRS results

• Revenue: £568.5m (2007: £650.5m)
• Loss before tax: £7.7m (2007: profit £85.9m)
• Basic loss per share: 9.3p (2007: earnings 45.5p)
• Proposed final dividend: 3.0p per share (2007: 12.0p), making 9.0p for the year (2007: 18.0p)

*Underlying profit is calculated by adjusting reported pre-tax profit before exceptional items by profit on disposals of £0.5m (2007: £0.7m), share based payment adjustment of £3.3m (2007: (£4.8m)) and amortisation of intangibles and impairment of goodwill and available-for-sale investments of £4.2m (2007: £5.1m).

Operational Highlights

• Cost savings of £22m secured
• New 3-year, £80m facility agreed
• Continued diversification away from transactional volumes
• Profitable growth across UK and Asia Pacific property management businesses
• Profitable UK Commercial and Residential businesses
• Selective investment in establishing new teams

Board Appointment

• Appointment of Simon Shaw as new Group Chief Financial Officer

Strategic Priorities

• Outstanding client service
• Absolute focus on cost discipline and prudent capital management
• Maintenance of balance sheet strength
• Selectively invest for future growth

Jeremy Helsby, Group Chief Executive of Savills plc, commented:
"This is a resilient performance in unprecedented global property markets. Today's results demonstrate the strength of our business model and ability to deliver value for shareholders in both strong and weak markets.

With 2009 looking to be another challenging year, our robust balance sheet and committed bank facilities until October 2011 are a major strength. The steps we are taking to reduce costs combined with our strategy of reducing dependence on transactional income will continue to serve us well.

We remain alert to the challenges ahead and will continue to focus on cost discipline, prudent capital management and, most importantly, providing the very highest service to our clients.

Globally, markets have continued to deteriorate and in the light of these difficult conditions the Board is adopting a very cautious outlook for 2009.

A return to higher levels of activity will depend on how quickly confidence returns to the financial markets. However we remain well positioned to seize opportunities as, and when, they arise."

To watch an interview with Jeremy Helsby, Chief Executive Officer, talking about the 2008 full year results, visit www.savills.com

View the Prelim Results in PDF format

View the Prelim Results Presentation in PDF format.

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