FINANCE: Cushman & Wakefield reported a 23.7% increase in revenue to $1.3bn (£1bn) for the six months to 30 June, due to sustained global occupier demand and investor demand.
Asia Pacific saw the highest rate of revenue growth, rising 39.3% to $77.6m, compared with the same period last year, while EMEA increased by 27.8% to $192.5m and the Americas by 21.4% to $625.1m.
Leasing made up the lion’s share of revenues, at $396.2m – a 17.5% increase. Significant deals completed during the period include the Salesforce headquarters in San Francisco and expanded leases in London.
However, corporate occupier and investor services saw the fastest rate of revenue growth, rising 49.9% to $279.6m.
Total costs increased by 21% to $884.7m during the period due to a rise in employment and other expenses.
Adjusted EBITDA for the six months was $36.8m, an increase of $6.8m.
C&W sold off its investment management arm, Cushman & Wakefield Investors, to La Française and Forum Partners in February this year.
sophia.furber@estatesgazette.com
