Revenues and profits on the rise at Jones Lang LaSalle

Real estate firm Jones Lang LaSalle (JLL) continued to benefit from the upturn in the domestic economy last year with both turnover and profits rising.

Newly filed accounts show pre-tax profits increased by 26 per cent to €6.5 million from €5.1 million a year earlier on revenues that were up 16 per cent to €21.8 million from €18.8 million in 2014.

In a note included with the accounts, directors’ said the company had continued to trade profitably in 2016.

Irish commercial property, which slumped by 67 per cent in value during the crisis, has delivered an annualised return of 25 per cent in the three years through June, according to figures compiled by the Society of Chartered Surveyors Ireland and Investment Property Databank.

Employee numbers at the group rose from 77 to 83 last year with staff-related costs, including wages and salaries, increasing to €12.2 million, as against €11.2 million a year earlier.

Director’s remuneration totalled €4.95 million, versus €3.9 million in 2014.

JLL, which celebrated its 50th anniversary in Dublin in 2014, expanded into the residential sector late last year with the €4.3 million acquisition of Guardian Property Asset Management Limited in November. The deal consisted of a €2.8 million cash payment and a contingent consideration of €1.5 million.

Overall, the group invested €18 million in subsidiary undertakings last year, up from €14 million a year earlier.