| Jones
Lang LaSalle Inc.quarterly profit rose 34 percent
The company reported fourth-quarter income of $67 million,
or $1.99 per share, up from $50 million, or $1.52 per share,
in the year-earlier quarter. Jones Lang LaSalle Inc. (JLL.N:
Quote, Profile, Research) on Tuesday said quarterly profit
rose 34 percent, beating Wall Street's forecast, as real
estate investment worldwide remained strong.The results
included a restructuring charge of 2 cents a share in the
fourth quarter 2005 and 10 cents a share the in the fourth
quarter 2004.
Analysts on average expected $1.64 cents per share, according
to Reuters Estimates.Revenue rose 21 percent to $499 million,
while analysts had forecast $444.30 million.The company
attributed its performance to favorable market conditions,
international investment and more property owners outsourcing
their building management needs, trends that it expects
to continue in 2006.Operating expenses during the quarter
rose to $413 million up from $343 million, buoyed by compensation
expenses.Investor and Occupier Services revenue rose 15
percent in the Americas region, while management services
rose 27 percent.
Europe generated 17 percent more revenue, as measured in
U.S. dollars, with Germany attracting more investment and
improving over the prior year, the company said. Revenue
in Russia rose more than 100 percent in the fourth quarter.Revenue
from the Asia/Pacific region grew 26 percent, in U.S. dollars,
with China and Japan increasing more than 60 percent.
Reuters 2006. All Rights Reserved.
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Jones
Lang LaSalle Inc.quarterly profit rose 34 percent
