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Profits up at CBRE and Jones Lang
PROPERTY firms CBRE and Jones Lang LaSalle reported solid rises in quarterly profits last night.
CBRE beat Wall Street’s predictions with a 31 per cent jump in earnings to $88m, on revenues up 13 per cent to $1.6bn.
Revenue from Europe, the Middle East and Africa fell 4.9 per cent to $248.2m, as gains were wiped out by the soft euro.
JLLS reported a two per cent rise in adjusted net income to $51m, on revenues up nine per cent to $921m. EMEA fees and revenues were up by almost a quarter, excluding currency movements, after the purchase of King Sturge.