Chicago-based property services firm Jones Lang LaSalle posted earnings of $50 mln in the third quarter of 2012, up 47% compared to $34 mln in the same period a year before.
Chicago-based property services firm Jones Lang LaSalle posted earnings of $50 mln in the third quarter of 2012, up 47% compared to $34 mln in the same period a year before.
Adjusted net income rose to $55 mln, versus $50 mln in 2011 while consolidated revenue posted a 5% rise to $949 mln in the quarter. However, in the EMEA region, revenue dropped 5% in the third quarter to $234 mln. Operating expenses, which include $1 mln of King Sturge intangibles amortization, totalled $230 mln for the third quarter, a decrease of 7% from the previous year.
'We maintained our steady growth in revenue and earnings in the quarter and the year to date,' said Colin Dyer, President and Chief Executive Officer.
'While we remain appropriately cautious given the ongoing, hesitant recovery in global real estate markets, our healthy pipelines, continued market share gains and committed cost management give us a good base for the fourth quarter and into 2013,' Dyer added.
