CBRE saw its Europe, Middle East and Africa revenue climb by 13% in terms of local currencies in the first quarter to $609.4m (£446m).
Total revenue in EMEA rose 16% by local currency to $1.2bn, although EBITDA and adjusted EBITDA slid -2% and -8% respectively.
CBRE said the growth in revenue in EMEA was attributed to strong performance in the UK as well as in France, Italy and the Netherlands.
The UK was also highlighted as a market helping to drive the company’s 19% growth by local currency in EMEA in terms of leasing revenue, alongside France.
However, the company said “economic volatility and market uncertainty globally related to uncertainty surrounding the implementation and effect of the United Kingdom’s referendum to leave the European Union, including uncertainty in relation to the legal and regulatory framework” was a factor that could cause the accuracy of its forward-looking statements to differ materially from ultimate results.
Globally, revenue grew by 11% in local currencies to $4.7bn and fee revenue grew 13% to $2.3bn. EBITDA rose 11% in local currencies to $357.8m.
Bob Sulentic, CBRE’s president and chief executive officer said: “CBRE continues to benefit from the strong secular trends that support our industry.
“These trends include growing occupier appetite for outsourced real estate services, increasing institutional capital allocation to the commercial real estate asset class, and the continued consolidation in our sector around the leading globally capable service providers.
“Our strategy is aimed squarely at making the most of these macro trends, and we are sustaining progress on many fronts – from digital technology investments to client care initiatives to enhancing our talent base and better connecting our people around the world.
“The successful execution of our strategy will ensure that we continue to produce outcomes for our clients that others find difficult to replicate.”
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