Overview

• Group revenue rose 6% to £1.1 billion in the six months to June and underlying profit increased by 6% to £23.3 million while reported pre-tax profit jumped 78% to £15.8 million.
• Transactional activity slowed sharply in Q2 as investors reacted to US tariffs, geopolitical events and uncertainty over the upcoming UK Autumn Budget, driving a 13% drop in UK investment volumes.
• Asia Pacific transaction volumes fell around 26%, particularly in China, while Spain and Germany showed pockets of strength and the US office market showed early signs of recovery.
• Non-transactional divisions helped stabilize earnings, with auction sales up 8% to over £420 million, Workthere revenue doubling and a strategic acquisition in Northern Ireland.
• The board raised the interim dividend to 7.4 pence per share, kept full-year guidance unchanged and saw shares fall to around 920 pence on the day of the results.