Colliers International posts 16% income rise
Colliers International has reported a 16% rise in revenue for the third quarter to $715.7m (£560.3m).
Adjusted EBITDA rose by 31% to $72.7m quarter-on-quarter.
The firm has also realised a revenue increase of 16% for the nine months ended September 2018 to $1.94bn.
Colliers International has reported a 16% rise in revenue for the third quarter to $715.7m (£560.3m).
Adjusted EBITDA rose by 31% to $72.7m quarter-on-quarter.
The firm has also realised a revenue increase of 16% for the nine months ended September 2018 to $1.94bn.
Its EBITDA during the same time period rose by 21% to $178.2m.
The new, combined group’s assets under management increased to $25.9bn as of 30 September 2018, up by 9% from $23.7bn during the quarter.
EMEA regional revenues totalled $146.3m for the third quarter compared with $128.1m in the prior year quarter, up by 14% (15% on a local currency basis).
Adjusted EBITDA was $17.3m, up from $11.1m in the prior year quarter, a 56% rise.
Jay Hennick, chairman and chief executive of Colliers International, said: “We generated strong overall revenue and earnings growth during the quarter, with a significant contribution from our new investment management platform.
“Given our performance through the first nine months of the year, current business pipelines and expectations of continuing stable to growing market conditions generally, we expect a solid fourth quarter and finish to the year.”
He highlighted the completion of the firm’s investment in Harrison Street Real Estate Capital. Colliers bought the business in July and combined it with its existing European investment management.
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