Global real estate services firm Jones Lang LaSalle (JLL) has posted strong revenue growth and earnings for the second quarter, achieving a net income of US$44 million, compared with US$32 million over the same period last year.
JLL said the Q2 results include US$6 million in restructuring and acquisition charges and US$2 million in intangible amortisation related to the King Sturge acquisition completed in Europe, Middle East and Africa (EMEA).
“We are pleased to report another quarter of solid revenue growth,” said Colin Dyer, President and Chief Executive of JLL. “While the cyclical recovery in global real estate markets continues, business confidence is being tested internationally by concerns over government finances. We expect to continue to grow our market share worldwide and remain positive on our prospects for the seasonally stronger second half.”
In the Asia Pacific region, JLL posted a 39 percent increase in Q2 revenue to US$215 million, compared with US$155 million over the same period last year. This was mainly driven by growth in Australia, India and Greater China. The year-to-date revenue in the region climbed 31 percent to US$380 million.
Meanwhile, the region’s earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter was US$25 million, compared with US$14 million a year ago.
Operating expenses for the region also rose 34 percent year-on-year to US$193 million in Q2. “The increase was principally due to staff and vendor costs (that) related to a higher volume of PDS work, as well as other corporate client activities,” said JLL.
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