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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Savills plc    SVS   GB00B135BJ46

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Savills plc : Savills Expands in Asia with New Philippines Associate

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02/28/2013 | 07:01pm CEST

International real estate advisor Savills has expanded its global network by forming a new association in the Philippines with KMC MAG Group.

The alliance increases Savills presence in Southeast Asia and gives the firm a foothold in the Philippines real estate market. The association with KMC MAG Group will both complement and diversify Savills existing strong activity in South East Asia and, in particular, allow the company to provide advice to businesses looking to participate in the Philippines real estate resurgence and those corporates seeking to establish a back office function.

Located in Bonifacio Global City, Manila's prime business district, KMC MAG Group is the fastest growing commercial and residential real estate service provider in the Philippines with over 100 employees involved directly in transactions for office, retail, industrial and residential properties. With a full suite of real estate services KMC MAG has successfully transacted over 1 million sq ft of commercial space for the likes of ANZ, Baker McKenzie, QBE, Samsung and WWF, and in recognition of the high standard of service has been awarded the status of Highly Commended Real Estate Agency in the Philippines by the International Property Awards.

Chris Marriott, CEO of Savills South East Asia, comments: "We are very pleased to have formed this alliance with KMC MAG Group, which is part of our wider strategy to grow our South East Asia business. We have been looking for a partner in the Philippines to complement and extend our already very strong platform in the Asia Pacific Region and in KMC MAG Group we have found a similarly dynamic team that has been highly successful in their local market.

Robert McKellar, CEO of Savills Asia Pacific, adds: "Southeast Asia has shown signs of a broad recovery and is clearly one of the bright spots in the global economy. This continued expansion of our services within this region is therefore incredibly important for Savills. I therefore welcome the addition of the KMC MAG team and believe that our combined experience and expertise puts us in a leading position to offer the best service to international clients in the Philippines.

Michael McCullough, Managing Director at KMC MAG Group, says: "We are very excited to be working with Savills, which has an established and strong presence throughout Asia Pacific as well as a substantial global platform and international client base. Together we will be able to provide best in class advice and offer our services to clients throughout the Philippines.

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Financials ( GBP)
Sales 2017 1 420 M
EBIT 2017 117 M
Net income 2017 90,2 M
Finance 2017 62,3 M
Yield 2017 3,25%
P/E ratio 2017 15,90
P/E ratio 2018 14,61
EV / Sales 2017 0,87x
EV / Sales 2018 0,84x
Capitalization 1 300 M
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 8,93  GBP
Spread / Average Target -4,0%
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NameTitle
Jeremy Charles Helsby Group Chief Executive Officer & Executive Director
Nicholas Ferguson Chairman
Simon J. B. Shaw Group Chief Financial Officer & Executive Director
Charles McVeigh Independent Non-Executive Director
Timothy George Freshwater Independent Non-Executive Director
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