Savills sees UK commercial profits halve due to Brexit vote
LONDON, Aug 9 (Reuters) - Estate agent Savills said profits at its British commercial property business fell 54 percent in the first half of the year, hit by a referendum on EU membership, and that the vote and upcoming U.S. presidential election had hit sentiment.
Underlying profit at the firm - which operates in Britain, Asia, continental Europe and the United States - rose 11.5 percent to 42.8 million pounds ($55.58 million) in the six months to the end of June.
But commercial property was one of the first sectors to be hit after the June 23 referendum with investors pulling money from funds, forcing many to be closed.
Savills said it was not changing its full-year expectations but that "the range of potential outcomes has broadened over recent weeks." ($1 = 0.7701 pounds) (Reporting by Costas Pitas; editing by Kate Holton)
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