Jones Lang LaSalle Inc., one of the world’s largest real estate service companies, reported a first-quarter profit versus a loss a year ago, driven in part by improved leasing, sales and property management services.
The company reported net profit of $0.2 million, or 1 cent per share, compared with a net loss of $61 million, or $1.78 per share, in the year-ago quarter.
Excluding $1 million in restructuring and $6 million non-cash impairment charges, first-quarter net income was $6 million, or 14 cents per share, compared with a loss excluding charges of $22 million, or 65 cents per share, in the first quarter of 2009.
Total revenue rose 18 percent to $581 million year on year.
In the America’s division, revenue rose 14 percent to $228.4 million, helped chiefly by improvements in its leasing and sales brokerage business and property management operations.
At Jones Lang’s Europe-Middle East-Asia division, revenue rose 25 percent to $151 million, helped by stronger businesses in the United Kingdom and Germany.
In the Asia-Pacific region revenue rose 29 percent to $136 million, driven by sales commissions.
LaSalle Investment Management, which invests for pension funds and other institutional investors, saw first-quarter fees slip to $59 million from $60 million the prior year. The results include $6 million of incentive fees.





