Jones Lang LaSalle (JLL) has reported a net income of $32 million or $0.72 per share in the second quarter this year, compared with a net loss of $14 million or $0.14 per share over the same period last year.
The group’s adjusted net income hit $37 million in the second quarter this year, compared with $11 million over the same period last year, while adjusted earnings before interest, taxes, depreciation and amortisation (adjusted EBITDA) reached $78 million compared with $49 million a year ago.
Revenue increased for the second quarter, reaching $680 million compared with $576 million in the previous year. This was largely due to the revenue growth in leasing and capital markets throughout all regions. Revenue for property and facility management also climbed 15 percent in local currency, and strong improvement was also recorded in the operating income in all segments.
Results for Q2 2010 included $4 million of restructuring charges, compared with $15 million last year, as well as $2 million of non-cash co-investment impairment charges, compared with $15 million in 2009.
“We are pleased with our second-quarter results, which showed a solid performance based broadly across our geographies and service lines,” said Colin Dyer, CEO of JLL. “Business prospects for the year remain good, and we are moving forward with confidence while watching market and economic dynamics. Our competitive position is strong in real estate markets, which continue their cyclical recovery.”