Colliers posts revenue rise

Three months ended 31 Dec 12 months ended 31 Dec Item 2016 2015 2016 2015 Revenues (£m) 576 556.1 1,896.70 1,722.00 Adjusted EBITDA (£m) 90.4 79.1 203.1 181.3 Adjusted EPS, £ 1.22 1.06 2.44 2.29 GAAP operating earnings (£m) 76.1 65 146.2 80.4 GAAP EPS from continuing operations 1.14 0.92 1.75 0.59 Colliers International has reported a 10% rise in revenues to $1.9bn (£1.5bn) in 2016, with fourth quarter revenues up by 4%. The company’s adjusted EBITDA was $203.1m, up 12% from last year, and adjusted earnings per share also rose by 7% to $2.44. All the figures were higher in local currency, and Colliers said the EPS would have been $0.07 more for the year excluding foreign exchange impacts. In the fourth quarter, revenue rose by 4% to $576m from Q4 2015, and EBITDA was up 14% to $90.4m. Jay S Hennick, chairman and chief executive, said: “Colliers International reported record revenue and earnings in 2016 despite political uncertainty and more challenging market conditions than the prior year. “As a global player in commercial real estate, Colliers International expects to continue generating value for shareholders.” • To send feedback, e-mail karl.tomusk@estatesgazette.com or tweet @ktomusk or @estatesgazette