CBRE has reported a 12% rise in fee revenues to $2.4bn (£1.5bn) in the second quarter of 2015.
The strong quarterly revenues helped push net profit for the quarter up to $125m and earnings per share up 17%.
Revenues from the company’s operations in EMEA rose 15% in dollar terms and 32% in local currency terms, the strongest of all the regions in which CBRE operates. In total, the region produced just under $586m in revenue over the quarter, producing earnings before tax, deductibles and accruals of $47.8m.
Michael Strong, executive chairman, EMEA, at CBRE, said: “The results we have reported today in EMEA are strong in dollars and local currency, demonstrating the effectiveness of our long-term strategy of building a broad-based business that delivers exceptional results and real advantage for our clients.
“Our profitable growth in the second quarter was driven by region-wide successes across all business lines – most notably in capital markets, leasing and valuation. Given the significant depth and breadth of our service offering, and ongoing commitment to investing in our business, we are well placed to continue growing with our clients throughout 2015.”
The earnings for EMEA are now just over a third of that of the US agent’s core North American market, which saw revenues of $1.4m from its operations. Operating income was up 173% to $32.5m.
The strongest sector for the company globally remained the Global Corporate Services arm, which manages buildings and other services for clients. Globally the arm made fee revenues of $268.7m and overall revenues of $745.8m over the quarter, up 9% on the year before.
The global investment management business made revenues of $94m over the quarter, earning the company a $24.3m net profit for the quarter.
The sales advisory arm of the business demonstrated one of the strongest growths of any arm of the business, up 23% with growth in a majority of the countries CBRE operates in.
It was the commercial mortgage services arm that saw fastest growth however in the quarter, up 40% for the second consecutive quarter.
