Jones Lang LaSalle reports 56% growth in European revenue

Jones Lang LaSalle (JLL) has reported 56% growth in its European revenue to $374m (£182m) for the first half of 2007. Overall revenue for the global real estate group increased 38% to $1.2bn (£0.58m) for the first half. During the second quarter, revenue climbed 33% to $676m (£329m). Chief executive Colin Dyer said: “The impressive second quarter performance in all our businesses and geographics, together with our strong first quarter, puts us in an excellent position for the second half. “To build additional momentum, we continue to invest in our operations, and to deepen and strengthen our service delivery to clients.” Europe, the Middle East and Africa (EMEA) earned $374m for the first half, an increase of 56%, and $197m in the second quarter. UK revenue rose 40% and Russia’s revenue nearly tripled. The company’s American division saw revenue of $327m (£159m) for the year to date. Its global transaction services business grew 45% for the quarter and 59% in the first half. In EMEA, expenses rose 44% for the first half, due to acquisitions, staff additions and increased incentive compensation. EMEA chief executive Alastair Hughes said the outlook for leasing markets in Europe was strong. However, he expected capital markets volumes in the UK to decrease slightly as it would “take longer to do deals.” “On the other hand, on the continent there is still an awful lot of activity going on and we see that continuing.” “We see the demand for our advisory services growing significantly as well, as evidenced by these numbers. “There is also growth potential in the Middle East. “We also see potential to take market share in the Netherlands and continuing buoyant conditions in Germany, Russia and France.” nathan.cross@rbi.co.uk