JLL Australia see revenues rise for eighth year
Commercial property agency JLL's Australian arm have seen revenue rise for the eighth consecutive year.
Revenues were up 17 per cent in the 2017 calendar year on 2016, with profits 18 per cent in the past year.
The Australian Financial Review said the result was led by contributions from JLL's facilities management business.
Facilities management revenues rose 67 per cent year-on-year after the agency won large government outsourcing contracts.
JLL's investment sales business had revenues up year-on-year by 10 per cent
The commercial real estate agency booked a record full year revenue of $US7.9 billion in its global operations.
In its Asia Pacific business, revenue rose 20 per cent to $US1.6 billion and fee revenue was up 14 per cent to $US1.2 billion.
The increase in 2017 fee revenue was led by Greater China, Australia, India and Japan, the company said.
Meanwhile US listed real estate agency CBRE recorded an all-time high for both revenue and earnings in 2017, driven by occupier outsourcing and leasing fee revenue.
Global revenue hit $US14.2 billion ($18 billion), an increase of nine per cent, with CBRE's Pacific business reporting a record revenue result in the fourth quarter after a nine per cent increase in revenue compared with the previous corresponding quarter.
CBRE's president and chief executive for the Pacific, Ray Pittman said the performance was driven by brokerage and professional services teams.
However, APAC sales revenue fell seven per cent compared with the fourth quarter of 2016, when sales had surged 42 per cent.