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88pc slump hits agency
Thursday 28th August 2008, 11:29AM BST.
Upmarket property firm Savills, which has a branch in Telford, today revealed profits in its estate agency business slumped 88 per cent during the first half of this year.
Savills said there was a “significant” fall in sales, and said the lack of completions in London area was largely to blame – warning prime Shropshire properties are now following suit.
Underlying pre-tax profits fell to £2.5 million during the six months to June 30, compared with £20.9 million the year before. Revenues were down 22 per cent to £105.3 million.
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