Jones Lang LaSalle’s share price surged nearly 14% in a day as it reported a record profit after tax of $104m, up from $64m.
The global real estate and financial services giant saw earnings per share leap from $1.96 to $3.12 on total revenue of $1.4bn for the year to 31 December, up 19%. The share price jumped $8 on the news to reach nearly $67 during the day’s trading.
In the UK, excluding Scotland, turnover grew 8%, taking revenue to around £152m (including Scotland).
Chief executive Colin Dyer said: “Our results reflect both the quality of the products and services we deliver to clients, and the commitment and client service focus of our people.”
Overall operating expenses were up 17% for the year to $1.3bn, ascribed to salary increases and regional expansion.
In Europe, the company said revenue growth was driven by strong performances in capital markets, agency and leasing, primarily in Germany, the UK and Russia. Revenue was $493m, an increase of 11% in US dollars and 13% in local currencies over the prior year.
“On the capital side we still think there is some way to go,” said European CEO Alastair Hughes.
“There is still a large volume of domestic and international capital to be invested. We do not anticipate a diminishing in transactional volumes.”
JLL said Germany had seen significant growth, with revenue up 50% on the previous year.
Revenue in the Americas increased 17% to $435m, with total operating expenses up 21% for the full year. In Asia Pacific, revenues hit $273m, up 23% on 2004, with income in China and Japan rising more than 60%.
LaSalle Investment Management’s revenues increased to $203m for the year, up 35% on 2004. The sector raised over $3bn during the year, with the launch of six private equity funds.
