Jones Lang LaSalle has delivered record full-year revenue and a 29% hike in new profit to $215m in its results for 2011.
The New York-listed firm posted the bumper results following double-digit growth in all three of its geographical markets and strong performance from the acquisition of King Sturge.
Consolidated revenue for the year ended 31 December rose 29% to $3.6bn, as the Americas delivered strong growth, with leasing revenue up 19% to $760m for the year.
EMEA finished the year with “robust” performance following the purchase of King Sturge in Q2 with revenue for the year of $974m – a 34% increase compared with $729m in 2010. Full-year EBITDA was up from $38m to $57m.
The capital markets and hotels division, advisory revenue and the successful integration of King Sturge were highlighted by JLL as strong contributors to this growth.
Fourth-quarter EMEA revenue was up 43% to $340m, while EBITDA was $43m, compared with $26m in 2010.
Operating expenses, which include seven months of King Sturge ongoing operating expenses and $11m of King Sturge intangibles amortisation, were $946m for the year, an increase of 33% from the prior year.
Asia Pacific’s Global Corporate Solutions business drove strong recurring revenue growth and property and facility management revenue was up 20% to $365m for the year.
“Our strong finish to the year closed out a solid 2011 performance of record revenue and robust profit growth coupled with significantly strengthened market positions across the firm,” said CEO Colin Dyer. “These results and the strategic actions we took during the year position us for continued growth and success in 2012.”
bridget.o’connell@estatesgazette.com
