C&W reports 33% rise in EMEA operations turnover

Global property advisers Cushman & Wakefield (C&W) has reported global turnover of $1.8 bn in 2007, a 21% increase on the previous year ($1.5 bn). Turnover for the firm's EMEA operations rose by 32.8% in 2007 to £282.4 mln (EUR 384.1mln) from £212.0 mln in 2006. The firm's strongest performing areas in the EMEA region were in Germany, the Czech Republic, Poland and Hungary. The Romanian office also saw impressive revenue growth in its first year of operation, according to the company statement.

All sections of the company's European business reported strong results. The firm's European Capital Markets Group advised on more than EUR 27.5 bn worth of transactions in 2007, an increase of nearly 47% on the previous year. In retail the European team completed in excess 4,000 transactions totalling more than 2 million m². The office team advised clients on more than 1.5 million m² of office space in EMEA. And the fund management team has EUR 6.1 bn assets under management in offices in London, Frankfurt and Paris.

Paul Bacon, chief executive officer of C&W's EMEA operations, said: 'The 33% increase in our revenues last year reflects the strength and depth of our business across all sectors and countries in Europe. In these more uncertain times we are fortunate to be in a position of such strength as a private, non-leveraged business with a leading global brand. We are in great shape to grow and take market share in EMEA and will focus on those areas that will most benefit our clients and that will give us the best returns.'