Jones Lang LaSalle (JLL) saw revenue rise by 18% in 2010 to a record $2.9 bn (EUR 2 bn), bolstered by a strong fourth-quarter result of $956 mln. Net income came to $154 mln for the year, which compares to a net loss of $4 mln a year earlier.
Jones Lang LaSalle (JLL) saw revenue rise by 18% in 2010 to a record $2.9 bn (EUR 2 bn), bolstered by a strong fourth-quarter result of $956 mln. Net income came to $154 mln for the year, which compares to a net loss of $4 mln a year earlier.
The Europe, Middle East and Africa (EMEA) region reported full-year revenue of $729 mln in 2010, up 13% on theb$644 mln booked in 2009. The most significant contribution came from Capital Markets and Hotels which saw increased activity in the fourth quarter, driving revenue up 41% in local currency compared with Q4 2009.
'Our strong fourth-quarter and full-year results were achieved with activity from all our regions as well as LaSalle Investment Management,' said Colin Dyer, CEO of JLL. 'As markets continue to recover, we are working to take additional market share and maintain good growth momentum into 2011.'
The New York-based firm said that it is 'well positioned to take advantage of a consolidating industry and global economic recovery'. 'The Americas expanded its market positions, EMEA returned to positive operating income, and Asia Pacific demonstrated continued annuity and transaction revenue growth,' it said.
In 2010, the firm reduced its net debt position by $250 mln, including a reduction in net bank debt of $155 mln driven by strong cash flows generated from operations. The firm's total net debt position at year-end was $273 mln.
