Savills said it saw signs of growth again in certain markets in spite of a first half performance that almost wiped out pre-tax profits.

Jeremy Helsby, chief executive, said yesterday any profit was an achievement given the extent of the property slump, which saw pre-tax profit fall from £33.4m to just £100,000 in the six months to June 30, with revenue down 11% to £247.6m.

He added there were positive signs, including evidence of rising prices in parts of the commercial and residential markets.

Financial Times, The Times