Profit up 42% at Savills holding company
Revenue rises by 17 per cent to €55 million
Savills is joint agent on the Blackrock Village Centre in Dublin, which is being refurbished.
Pretax profit at the holding company for estate agent Savills Ireland last year increased by 42.5 per cent to €7.13 million.
New accounts filed by Anatao Ltd show that the profit growth came as revenues increased by 17 per cent from €46.7 million to €55 million in the 12 months to the end of December last.
The company – which has offices in Dublin, Cork and Belfast – paid a dividend of €4.5 million last year. This compared with a dividend of €7.5 million in 2017.
Numbers employed by the business fell from 302 to 278, while staff costs last year grew from €26.14 million to €30.8 million.
The staff costs included share-based payments of €127,929 and severance and redundancy costs of €107,772. Staff salaries increased from €23.3 million to €27.5 million.
Directors’ emoluments climbed from €742,006 to €957,118, while the company also paid paid €117,900 in pension contributions for directors. Two directors served during the year: Savills Ireland managing director Angus Potterton and the business’s finance and operations director, Peter Callendar.