Colliers International has reported a 17% rise in revenues for 2018, totalling $623.2m (£483.5m) on the back of a 21% increase in fourth quarter revenues of $216.9m.
The company attributed a sizeable amount of this growth to acquisitions (14% for the year and 15% for the fourth quarter) having seen a strong performances in Germany and France throughout the year.
Overall, the company saw revenues rise by 16% to $2.8bn during the year and also by 16% in the fourth quarter to $888.9m. Most notably during the year the company acquired investment management business Harrison Street Real Estate Capital, which means that as of the end of last year it has $26.4bn of assets under management.
Jay Hennick, chairman and chief executive of Colliers International, said: “With 2018 now complete, we are well on-track to achieving our ambitious five-year growth plan to double our size by 2020. Looking ahead, despite a number of ongoing geopolitical events, we are confident in our business prospects for 2019 with expectations of continued organic growth in most markets and the completion of strategic acquisitions to strengthen our highly respected brand and global platform that is recognised among the best in the industry.”
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