BNP Paribas Real Estate’s international growth, including its merger with Strutt & Parker in the UK, led to a 15.2% jump in revenue in 2017 to €811m, the company said in its full year results.
Thierry Laroue-Pont, chairman of the management board at BNP PRE, said the company is “now a leader of real estate services in Europe”, with 46% of revenue coming from outside France.
The UK accounted for 12% of turnover for the business – the same proportion as in 2016.
However, Larou-Pont said the acquisition of Strutt & Parker should automatically boost revenues to €950m in 2018 – above the firm’s target of €900m for the year.
BNP PRE’s full year results also showed profits up 20.6% to €187m.
Its advisory business led much of its activity, accounting for €390m of revenue. In valuations, France led the way with 44% of BNP PRE’s revenues, the UK coming second at 24%.
Andy Martin, chief executive of BNP PRE Advisory UK, said: “2017 was a momentous year for BNP Paribas Real Estate in the UK, bringing together two leading brands and two exceptional groups of people to create a compelling new service offering for our clients, and a platform that will complement our market-leading positions in France and Germany.”
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