Jones Lang records full-year revenue of US$3.6b

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Global property consultancy Jones Lang LaSalle (JLL) has announced that consolidated revenue for the year climbed 23 percent to US$3.6 billion (S$4.5 billion), while adjusted net income for the year surged 29 percent to US$215 million (S$268 million).

“Our strong finish to the year closed out a solid 2011 performance of record revenue and robust profit growth coupled with significantly strengthened market positions across the firm,” said Colin Dyer, President and CEO of JLL. “These results and the strategic actions we took during the year position us for continued growth and success in 2012.”

Excluding restructuring and acquisition charges, JLL’s operating expenses hit US$3.3 billion (S$4.1 billion) in 2011, up 23 percent from the US$2.7 billion (S$3.37 billion) recorded in 2010. This was driven by higher variable compensation resulting from improved transactional revenue as well as variable costs to support client wins.

Meanwhile, revenue in the Asia Pacific business hit US$816 million (S$1.02 billion), up 20 percent compared with US$679 million (S$846.5 million) in 2010.

“Continued expansion of the firm’s market-leading positions in Greater China and India contributed to increased revenue, as did growth in Property & Facility Management,” it said.

Operating expenses also surged 19 percent year-over-year to US$750 million (S$935 million) in 2011. The increase was attributed to staff and gross contract vendor costs that related to a higher volume of PDS work, as well as other corporate client activities. EBITDA was US$78 million (S$97.24 million) in 2011, compared with US$62 million (S$77.29 million) in the previous year.

Overall, JLL completed the year with “record consolidated revenue levels and solid performance in each of the geographic segments and LaSalle Investment Management.”

“Within the challenging economic conditions of many of the countries in which we operate, the firm’s strong market share and healthy pipelines across most of its businesses provide good momentum and reason for optimism entering 2012,” it said.

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