Leasing drives 6% revenue lift at Colliers

A 13% increase in leasing revenue helped boost overall Q2 earnings for Colliers to more than $1.1bn (£860m). The agent’s leasing business delivered $288,918 of revenue in the three months ended 30 June, up from $256,684 in the same period in 2023. Capital markets revenue was largely flat at $182,916. Outsourcing and advisory make up the lion’s share of revenue for Colliers, with $541,603 of income delivered during the quarter. Half-year revenue totalled $2.1bn, up by 5% on 2023. Capital markets revenue for the half-year is tracking 4% down on last year. Operating profit for the first six months of the year totalled $264.3m, up from $251.7m. Chairman and chief executive Jay Hennick (pictured) said: “Colliers delivered solid second-quarter results, with growth across all service lines and segments. Leasing revenue exceeded expectations while capital markets saw modest growth for the first time since the second quarter of 2022. “As expected, our high-value, recurring service lines – outsourcing and advisory, and investment management – continued to deliver solid and predictable growth during the quarter. As our business continues to meet expectations, we are maintaining our financial outlook for the year.” Revenue in the EMEA region totalled $178.7m in Q2, up by 3%. The increase was driven by leasing, with capital markets flat. The Americas showed the strongest regional performance for the group, with Q2 revenue up by 8% on 2023 at $682.7m. Capital markets rose by 2%. In Asia-Pacific, revenue fell by 1% to $151.9 m.