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Friday, April 9, 2010

DTZ on track for forecast

Property broker DTZ Holdings said yesterday it remains on track to meet market expectations for its full year and anticipates £70 million (S$147 million) of cost savings for the period.

Overall, DTZ said it remains cautious, but cited its strong performances to date from certain geographies and service lines, and its now complete restructuring programme, as underpinning its full-year expectations.

‘It is encouraging to report that in certain markets we see signs of growing confidence and activity, a trend we highlighted in our half-year results,’ DTZ said in its interim management statement.

This was particularly the case in transactional markets across the Asia-Pacific region, and in the key European central business districts, notably London and Paris.

‘However, while there are signs of recovery in some areas of our industry it is too early to determine to what extent this recovery will be sustained, particularly while wider economic uncertainty remains,’ DTZ said in the statement.

Source : Business Times – 16 Mar 2010

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