JLL records revenue increases in EMEA
Jones Lang LaSalle, one of the world's leading financial and professional services real estate firm with large presence in Hungary and the region, increased its earnings in EMEA in Q2 2011 according to its press release.
EMEA’s revenue in the second quarter increased by 28% (15% in local currency) from $171 million in 2010 to $218 million in 2011. The most significant component of the revenue increase was in Project & Development Services (“PDS”), which includes the region’s fit-out business where gross contracts include subcontractor costs. PDS revenue increased 49% in local currency compared with the second quarter of 2010. Year-to-date revenue in the region was $386 million in 2011, compared with $322 million in 2010, a 20% increase, 13% in local currency.
Meanwhile, JLL's net debt position increased by $184 million compared with June 30, 2010, to $832 million, primarily due to funding the King Sturge acquisition in EMEA during Q2 2011.
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