JLL books record net income of EUR 173 mln in 2007

Global property consultant Jones Lang LaSalle (JLL) reported a record net income of $256 mln (EUR 173 mln) for 2007, an increase of 46% over the year-earlier period. Revenue for the year amounted to $2.7 bn, up 32% compared with 2006, thanks to a strong performance in all operating segments.

Operating income for 2007 grew by 40% to $342 mln, led by strong results in the Asia Pacific and EMEA regions, JLL said. EMEA's full-year revenue advanced 36% to $926 mln, and fourth-quarter revenue increased 21% to $327 mln.

Geographically, the EMEA region's robust full-year growth was led by the UK, Germany and Russia, JLL said. Revenue in the UK, the firm's largest European market, grew 21%, while Germany recorded an increase of 53%. Russia continued its advance in 2007 with full-year revenue doubling compared with 2006.

For the fourth quarter, revenue growth in the UK and Germany was flat year-on-year, with both countries negatively affected by lower volumes in capital market transactions, JLL said. However, healthy increases in revenue were recorded by Russia, the Netherlands and Central and Eastern Europe.