Jones Lang LaSalle earned $176m (£90m) of net profit in a record-breaking 2006.
In a statement posted on the New York Stock Exchange overnight, the world’s second largest property services firm boasted a 70% increase in net profits last year as the bull-run in the global property market continued.
JLL’s EMEA region generated the most revenues of all three of the firm’s geographical businesses, achieving $679m of turnover in 2006 compared with $625m (£320m) generated by the Americas region.
The $679m (£347.6m) EMEA turnover represented year on year growth of 34% in local currencies and was driven by strong performance in the company’s overall capital market transactions and agency leasing, which grew 70% and 26% respectively.
LaSalle Investment Management had an exceptional 2006, in which revenue rose 86% in local currencies to $384m (£196.6m) The firm’s assets under management have soared by 35% to $40.6bn (£20.78bn) in the last 12 months. LaSalle also secured the biggest-ever single incentive fee of $112.5m (£57.6m) for investment management out-performance in 2006.
Revenues also increased in the Asia Pacific region, despite a cooling in the Japanese capital markets. Turnover in the region increased by almost a quarter in local currencies to $337m (£172.5m).
Colin Dyer, chief executive officer of JLL, said: ‘Such significant increases in revenue and net income show that our strategic growth investments and paying returns across our business platform’.