JLL's Q1 profit rises to $1.5m

Chicago-based Jones Lang LaSalle (JLL) saw first-quarter earnings surge to $1.5 mln (1 mln) from $0.2 mln in the year-earlier period. Revenue rose 18% year-on-year to $688 mln.

'Positive year-over-year revenue performance continued in the first quarter with good momentum building in our businesses,' said president and CEO Colin Dyer. 'Our healthy new business pipelines across the globe make us optimistic about our revenue and profit prospects as we move into the seasonally stronger quarters of the year.'

Revenue in the EMEA region rose 11% to $168 mln in Q1, from the $151 mln result posted in 2010. JLL said market recoveries across the region continued to be mixed, resulting in varied performance from one country to the next, with the three biggest countries - Germany, UK and France - continuing to be strong.

JLL's investment management business also reported a strong performance with advisory fees increasing by 5% year-on-year to $61 mln in Q1. During the quarter, LaSalle Investment Management raised $1.5 bn of net equity, primarily from separate account clients and in the public securities business. Assets under management surged to $43.0 bn, compared to $41.3 billion at December 31, 2010.