CB Richard Ellis today is to reveal a 50% growth in its global revenues to about $6bn (£3bn) in 2007, in spite of a slump in certain property markets at the tail end of the year. Financial Times, Daily Telegraph
The company will say that its UK business completed two company purchases in January, with further acquisitions likely to be announced shortly in mainland Europe.
CBRE’s global rivals, such as Jones Lang LaSalle and Cushman & Wakefield, have also reported upbeat fully ear results, though all warn that 2008 is likely to be a more challenging year after record levels of transactions, in particular in 2007.
CBRE will say that it is set to benefit from the diversification of its business, both geographically and by sector.
The company is set to report that earnings before interest, tax, depreciation and amortisation jumped 28% in 2007 to $834m, driven by strong growth in core markets such as Europe.
The company said it had faced a more challenging market towards the end of the year. Total revenues still increased by 30% in the last quarter.