Advisory work drives revenue rise at Colliers
Colliers has posted a rise in revenue and profit over the first quarter of the year.
The agency said revenue for the “seasonally slow first quarter” came in in at £1bn, up by 4% on the same period of 2023, with adjusted Ebitda at $108.7m, also a 4% improvement.
“Our focus on expanding high-value, recurring service lines is paying off handsomely, reshaping and repositioning our business for the future,” said chairman and chief executive Jay Hennick, highlighting revenue growth in outsourcing and advisory, investment management and leasing.
Colliers has posted a rise in revenue and profit over the first quarter of the year.
The agency said revenue for the “seasonally slow first quarter” came in in at £1bn, up by 4% on the same period of 2023, with adjusted Ebitda at $108.7m, also a 4% improvement.
“Our focus on expanding high-value, recurring service lines is paying off handsomely, reshaping and repositioning our business for the future,” said chairman and chief executive Jay Hennick, highlighting revenue growth in outsourcing and advisory, investment management and leasing.
“As expected, ongoing interest rate uncertainty and geopolitical tensions continued to weigh on capital markets,” he added.
Outsourcing and advisory saw the highest revenue growth, up by 9% at $497m. Investment and leasing revenues grew by 1% and 2% respectively, while capital markets revenue dropped by 9% to $138.7m.
In Europe, the Middle East and Africa, revenue of $146.6m was up 2%, although posted a 1% fall in local currency. The agency said the region had seen lower transactional activity, particularly in Germany, partly offset by growth in outsourcing and advisory. The division posted an adjusted Ebitda loss of $12m.
