US real estate services giant Jones Lang LaSalle has seen its adjusted earnings per share rise 20% to $2.01 in the three months to end-June, up from $1.68 in the same period a year earlier.
US real estate services giant Jones Lang LaSalle has seen its adjusted earnings per share rise 20% to $2.01 in the three months to end-June, up from $1.68 in the same period a year earlier.
The rise was achieved despite a negative foreign exchange impact of $0.15 compared with a year ago, the broker noted.
Second-quarter fee revenue totalled $1.2 bn, up 17% from the second quarter of 2014. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) reached $157 mln, versus $132 mln in 2014.
‘We are pleased with another record quarter, with double-digit revenue growth in all business segments, the product of years of consistent, disciplined investment across all areas of our company,’ said Colin Dyer, CEO of JLL. ‘We remain positive on our prospects for the second half of 2015, with solid momentum across all service lines and markets.’
EMEA results
In the EMEA region, whose performance during the second quarter was significantly higher in local currencies than in US dollars due to the weakening of the European currencies, fee revenue for the quarter was $327 mln, an increase of 21% from 2014.
Revenue growth was driven by the capital markets and hotels business line, up 38%, and project and development services, up 36%, compared with last year. Growth in the region was broad-based, the broker said, led by the UK, Germany, Sweden, and Central and Eastern Europe.
Adjusted EBITDA in EMEA stood at $38 mln for the quarter, compared with $30 mln last year.
The investment management business also reported a strong performance worldwide. The total segment revenue reached $106 mln for the quarter, versus $82 mln in 2014.
JLL raised a total $948 mln in capital over the quarter and $3 bn in the year-to-date.
LaSalle IM had assets under management of $56.0 bn at end-June, up from $55.3 bn as of March 31, 2015.
