CBRE reported a 4% increase in revenue in Q2 globally to $3.3bn, and a 3% increase in fees to $2.2bn, driven by its Asian and European business arms.
The agency said that EMEA performance was “paced by gains in the Netherlands, Spain and the United Kingdom”, where “activity levels continue to rebound strongly from the impact of last year’s Brexit vote.”
EMEA growth was led by the UK, where sales revenue grew by 69%.
The agent said that globally adjusted net income increased by 27% to $222.3m, while profit before tax rose 29% to $399.9m.
Bob Sulentic, CBRE’s president and chief executive officer, said: “Continuing strength in our regional services business – led this quarter by broad-based strength in Asia Pacific and EMEA as well as continued strong organic growth in our global occupier outsourcing and capital markets businesses – was augmented by strong gains in our development services business.”
Asia Pacific saw a 17% rise in revenues, while EMEA saw an 8% increase – although this was flat when converted into dollars due to depreciation in Sterling.
Sales revenue in EMEA rose 32%, while leasing revenue rose 6%.
Martin Samworth, chief executive officer, EMEA, CBRE, said: “Building on our positive momentum since the start of the year we produced year-on-year revenue growth for the quarter of 8% and an increase of adjusted EBITDA of 30%, both in local currency and excluding the impact of foreign currency movement including hedging.
“Our revenue gains included double-digit growth across the majority of our service lines and geographies.
“We enter the second half of the year with a well-diversified service offer and a healthy pipeline of business and, while we are mindful of geopolitical uncertainty in some of our markets, we are very well positioned to deliver exceptional outcomes for our clients.”
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