Savills Plc, the largest publicly traded property broker in U. K., released its annual results today. Savills said in its results that the company has returned to net profit in FY 2009.

The company said that the profit in the year was mainly attributable to the job reduction and other cost cutting measures applied by the company. The company posted brilliant results in the second half of the year.

Savills reported a net profit of £8.9 million in the fiscal ended January 2, while in FY 2008 the company reported a net loss of £11.3 million. Savills told in its results that the company posted the underlying pretax profit of £25.2 million in FY 2009, decreasing by 24% while in the previous corresponding year the underlying pretax profit was reported of £33.2million. Total revenue of the company in FY 2009 declined 1.4% and was reported of £560.7 million.

Savills saw a better second half of the year than the first half in terms of underlying profit. In the first half of the year, Savills reported an underlying pretax profit of £2.5 million while in the second half it posted underlying pretax profit of £24.7 million.

Savills also said in its results that the company reduced its costs by around £62 million in FY 2009.