Property advisor Cushman & Wakefield made a profit of EUR 2.1 mln for the third quarter of 2009. The result was EUR 3.4 mln down on the same period last year but a major improvement on the second quarter of 2009 when the global real estate services company suffered a EUR 9.5 mln loss.
Property advisor Cushman & Wakefield made a profit of EUR 2.1 mln for the third quarter of 2009. The result was EUR 3.4 mln down on the same period last year but a major improvement on the second quarter of 2009 when the global real estate services company suffered a EUR 9.5 mln loss.
The third quarter result may indicate Cushman & Wakefield is beginning to benefit from the real estate upswing following the virtual freezing of the markets globally in the first six months of 2009. Cushman &Wakefield's listed peers Jones Lang LaSalle and CB Richard Ellis and Knight Frank have also posted positive results for the third quarter.
Cushman & Wakefield, part of the Exor Group, saw its losses for the first nine months of the 2009 balloon to EUR 54 mln from EUR 26.8 mln the year before.
The financial information was presented in Exor's results to end-September 2009. Exor is the holding company of the Italy's Agneilli family, founder of carmaker Fiat.
