Cushman & Wakefield reported a loss of EUR 47.3 mln in the first quarter of 2009, according to a statement issued by Exor, the holding company of the Italian Agnelli family which owns 72% of the London-based firm. The figure compares to a loss of EUR 24.1 mln in the same period a year earlier.
Cushman & Wakefield reported a loss of EUR 47.3 mln in the first quarter of 2009, according to a statement issued by Exor, the holding company of the Italian Agnelli family which owns 72% of the London-based firm. The figure compares to a loss of EUR 24.1 mln in the same period a year earlier.
C&W's main competitors CB Richard Ellis and Jones Lang LaSalle unveiled net losses of $36.7 mln (EUR 27.6 mln) and $61 mln respectively in the first quarter of the year.
In March, Exor said it was providing Cushman & Wakefield with a $50 mln credit line after it unveiled a loss of EUR 20.2 mln for 2008. The transaction will be finalised shortly, it added. C&W's loss for 2008 compares to a profit of EUR 48.4 mln the previous year.
