Jones Lang LaSalle builds a record profit

 
Kasmira Jefford
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JLL is the leasing agent on the “Cheesegrater” Leadenhall Building
Jones Lang LaSalle (JLL), the New York-listed property services giant, revealed yesterday that net profits jumped by a third last year thanks to strong fee revenue growth across all markets.

JLL, which has been acting as leasing agents for the developers of the Cheesegrater skyscraper in the City and the Shard, runs 230 offices in 80 countries around the world and employs around 58,000 staff.

The company said net profit rose by 31 per cent to a record $393m (£260.7m) in the year to 31 December. Fee revenue was up 18 per cent to $4.7bn led by the Americas, which accounts for almost half of the business.

Fee revenue in the region jumped 18 per cent to $2.1bn. In Europe, Middle East and Africa, revenue grew by 17 per cent to $1.3bn, driven by its capital markets and hotels division and by countries including the UK and France. Asia revenues rose by 11 per cent on 2013.

“We completed an excellent fourth quarter and full-year 2014, with strong revenue growth across all service lines and geographies, record profit, and record levels of new capital raised by LaSalle,” said JLL’s president and chief executive Colin Dyer.

LaSalle Investment Management, raised a record $9bn of equity last year, while advisory fees increased by five per cent to $236m.

“In 2015, we will continue our consistent policy of investing in our platform to continuously improve the quality and scope of our services, and build the long-term value of our company,” Dyer added.

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