First half trading figures from Savills, CBRE and JLL reveal a resilience despite the shaky trading environment.
While US giants CBRE and JLL recorded double-digit revenue growth and rising profits in the first half, UK-based Savills saw revenues rise by 2%, and profit before tax slow.
Savills said that the fall in profits was a short-term result of investment across the business. It recently acquired Cluttons Middle East while Savills Investment Management bought a 25% stake in European investment adviser DRC Capital.
In its Q2 results, CBRE upped its guidance for its full-year results. Bob Sulentic, CBRE’s president and chief executive, said: “The macro environment remains favourable with solid economic growth.
“While we are mindful of potential risks on the horizon, particularly from heightened trade tensions, we have thus far seen no discernible impact on our business.”
JLL also posted a rise in revenues for the year. Chief executive Christian Ulbrich said: “Real estate fundamentals remain resilient, and we are optimistic about our full-year performance, despite intensifying global economic uncertainty.”
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