Aided by improved global leasing activities and strong investment markets CBRE has achieved a 48% increase in net profits in the second quarter of 2006.

Improved global leasing activities and strong investment markets have helped CB Richard Ellis achieve a 48% increase in net profits in the second quarter of 2006.

In second quarter earnings figures posted today, the world’s largest property services company announced it had made a $79.2m (£42.5m) profit in the last three months, compared with a profit of $53.5m (£28.7m) in the corresponding period of 2005.

Revenues climbed 24% to $836.2m (£449m) in the last three months, resulting in a 48% year-on-year increase in share earnings the second quarter to $0.34 a share.

Brett White, president of CBRE, described the second quarter performance of CBRE’s European operations, led by the UK, as ‘robust’.

Revenues for CBRE’s European, Middle East and African regions increased 38.3% to $170.3m (£91.4m) compared with $123.1m (£66.1m) for the second quarter 2005. Excluding one-off costs, profits for the region more than tripled in the second quarter of 2006 to $32.5m (£17.4m), compared with profits of $10.7m (£5.7m) in the same period last year.

White said: ‘Commercial real estate markets worldwide have good momentum….and strong organic growth [in Europe] is being augmented by strategic in-fill acquisitions that expand the scope and reach of our service offerings.’

Profits in CBRE’s Americas division increased from $69m (£37m) in the second quarter of 2005 to $84m (£45.1m) in the last three months. The Asia Pacific region, which comprises activities in Asia and Australasia, generated a $12.1m (£6.4m) profit in the last quarter, almost double its $6.6m (£3.5m) profit achieved in the same period last year.