JLL has reported a rise in revenue but a fall in profitability in its Q2 2017 results.
Global revenue was up by 14% to $1.8bn (£1.36bn), while global fee revenue increased by 14% to $1.5bn, compared with its Q2 2016 results.
In the EMEA, which does not break down UK performance, revenue was $592.4m and fee revenue $439.1m, an increase of 32% and 42% respectively.
EMEA revenue increases were driven by its property and facilities management division, growth in the capital markets and hotel arms, and leasing activity.
However, EMEA adjusted earnings before tax fell by 13% to $20.1m, while adjusted earnings globally fell by 2% to $158.2m.
JLL said the decline in profitability “reflected a shift in service mix associated with the continued integration of Integral [the facilities manager it bought for $330m in August 2016] together with continued increases to investments in data, technology and people”.
EMEA operating expenses in Q2 were $583.4m, a 35% increase on the $465.8m in 2016, while global expenses were $1.7bn, compared with $1.5bn for Q2 2016.
Christian Ulbrich, chief executive, said: “Broad-based revenue growth supported by healthy conditions in key markets globally contributed to a strong second quarter at JLL.
“We remain positive entering the second half of the year.”
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