Profits at Savills up 4% to €5m

Profits at real estate agent Savills’s Irish business grew more than 4 per cent to €5 million last year, the latest figures show.

Turnover at Anatao Ltd, the registered name of Savills Group Ireland, dipped to €46.7 million last year from €47.8 million in 2016, according to accounts just filed.

Pretax profit grew 4.16 per cent to €5 million in 2017 from €4.8 million the previous year, aided by a fall in the company’s costs to €41.7 million from €43.1 million over the same time period.

Anatao ended the year with net assets of €11.8 million, 15 per cent below the €14.45 million recorded on December 31st 2016.

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A increase in short-term debt to €20.2 million from €16.4 million contributed to this. The accounts show that Anatao owed €2 million to other group companies at the end of last year, compared with zero 12 months earlier. The sum due to trade creditors also increased to €3.8 million from €2.2 million.