International real estate giant Savills (LON:SVS) reported a 3.5 percent increase in profit on Thursday, after a “highly resilient” in their UK residential business.

Profit at the group £140.5 million, with revenues rising by 11 percent to £1.6 billion. Statutory profit before tax increased by 13 percent to £112.4 million, increasing its total dividend for the year by 4 percent to 30.2 pence per share.

The group saw a particularly strong performance from its investment management business, with assets under management rising 5 per cent to £14.6 billion, as well as its UK residential business.

Jeremy Helsby, group chief executive, said: “Savills has delivered another strong performance in 2017. Revenue and profits grew in each of our global Transaction Advisory, Consultancy and Property Management businesses despite challenging conditions in a number of markets. The strength of our business in key transactional markets across the globe, including a highly resilient performance in our UK residential business, were key to this result.

“Throughout the year we maintained our focus on delivering exceptional service to our clients and continued to build on our global network through complementary acquisitions and new team hires.

“We have made a solid start to 2018 with a pipeline of business carried over from last year in many markets, although this is against the backdrop of heightened market uncertainty, geopolitical risks and rising interest rates. We anticipate a tempering of the strong transaction volumes of recent times in some markets; however, at this early stage in the year our expectations for 2018 remain unchanged.”

Shares in Savills (LON:SVS) are currently trading down 0.15 percent at 974.50 (0831GMT).