Colliers International has reported a 56% year-on-year rise in adjusted EBITDA for the EMEA region in the third quarter of 2018.
Adjusted EBITDA was $17.3m (£13.5m) compared to $11.1m at the end of Q3 2017, and represents a continued turnaround for the firm in the region following a 22% rise in Q2 and a year-on-year loss in the first quarter of this year.
EMEA region revenues totalled $146.3m for the third quarter, a rise of 15% in local currency terms compared to $128.1m in the previous year. The bulk of the growth (13%) came as a result of acquisitions during the quarter with an increase in lease brokerage offsetting a decline in sales brokerage.
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