CBRE earnings beat forecasts

City A.M. Reporter
CBRE, one of the world’s largest commercial property firms, reported better-than-expected earnings last night, as the Americas offset sluggishness in Europe.

Excluding $18.9m in charges related to its ING acquisition, CBRE reported first-quarter earnings of $45.9m, up from $40.6m in the first quarter of 2011.

Revenue for the quarter rose 14 per cent to $1.35bn. Turnover was up slightly in the UK, but the rest of Europe pulled down its results across the continent.