JLL first quarter results exceed expectations

Jones Lang LaSalle’s European division led a first quarter rally for the company, which today reported a 10% rise in revenue in local currency over the first three months of 2004.

The company’s better than expected first quarter performance contrasts sharply with the same period last year, where JLL’s European revenues fell 3% to $351m (£192m).

Revenues in the US, meanwhile, increased 18% to $222.8m, while the Asian business saw revenues up 8%. Revenue at LaSalle investment was also up 8%.

JLL reported a net first quarter loss of $6.1m, cutting last year’s losses by $1.2m, a better improvement than expected.

Stuart Scott, Chairman and Chief Executive of JLL, commented: “Our financial results continue to improve thanks to the combination of focused operations and stabilising economies. It is early in the year to alter our view of total year potential, but we are pleased with these solid first quarter results.”
Source: Freeman / PropertyWeek

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