Colliers global revenues up 10%
Colliers International saw global revenues rise by 10% in the third quarter of 2016, compared to the same period last year.
The agent predicted it would also see revenues rise in Q4.
However, EMEA region revenues dropped by 1% (up 4% in local currency) down to $106.6m, compared to $107.6m in Q3 2015.
Colliers International saw global revenues rise by 10% in the third quarter of 2016, compared to the same period last year.
The agent predicted it would also see revenues rise in Q4.
However, EMEA region revenues dropped by 1% (up 4% in local currency) down to $106.6m, compared to $107.6m in Q3 2015.
It said internal revenues were hit by a decline in transactions, partly due to the Brexit vote, but were largely offset by a 15% increase in non-transactional revenues in outsourcing and advisory.
Revenue for its international business was $462.1m, compared to $420.3m in 2015.
• Q2 results: Colliers International’s revenue up 11%
Colliers chairman and chief executive Jay S Hennick said the company had delivered strong results despite challenging market conditions in the UK and Europe, with two acquisitions in the Americas, one in EMEA, and one, in the UK, just after the quarter ended. It also appointed former Canadian prime minister Stephen Harper to the board.
He said: “Most importantly, our strategy remains focused on building Colliers over the long term – investing prudently and strategically, and leveraging our strong balance sheet to capture opportunities as they present themselves.
“Assuming stable market conditions and with our strong pipelines in place, we expect to exceed the results reported in the fourth quarter of 2015.”
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