Property services group Savills reported pre-tax profit up 31% at £20.2m (1999 - £15.4m) for the year to 30th April 2000, on turnover of £141.9m, up 39%.

The property services subsidiaries, trading under the FPDSavills brand, saw profits rise 78% to £9.3m on turnover of £68.7m. The group completed its acquisition of First Pacific Davies Limited in April.

The commercial businesses, including FPDSavills Commercial, FPDSavills Asia Pacific, FM business Trigon and the European subsidiaries, increased turnover by 40% to £54.9m and profit by 29% to £9.4m.

FPDSavills’ second ‘strategic step’ towards creating an international property services group came after the company’s year end. A strategic alliance was formed with Trammell Crow Company, one of the leading US commercial real estate companies.

As part of the alliance, completed at the end of last month, a European corporate real estate joint venture was created, incorporating Trigon and the Corporate Services business. The new company, branded Trammell Crow Savills, is owned 51% by Trammell Crow Company and 49% by Savills and will utilise Trammell Crow’s expertise and US client base. Savills plans to extend this joint venture concept into Asia Pacific in due course.

Richard Byatt