Pre-tax profits at Jones Lang LaSalle continue to surge

Pre-tax profits at commercial real estate agency Jones Lang LaSalle have continued to surge after they almost doubled last year following a similar increase the year before.

New figures published by the company in its annual report show pre-tax profits increased from €2.83 million in 2013 to €5.14 million in 2014. Pre-tax profits in 2012 stood at €1.42m.

Revenue at the firm also increased from €13 million to €18.8 million.

In March 2014, American private equity firm Lone Star paid just over €10 million – €2 million above the guide price – for five shops at the junction of Dawson Street and Nassau Street in Dublin city centre.

Jacqueline Fitzpatrick of Jones Lang LaSalle handled the sale which bought the shops from Nama as part of AIB’s Project Kildare.

In terms of staff at Jones Lang LaSalle, the number of employees increased from 71 to 77 during 2014. This led to an increase in staff associated costs which rose from almost €8 million to €11.3 million.

The figures show that the increased business last year resulted in emoluments for the firm’s 12 directors increasing from €3.1 million to €3.9 million.

The firm’s parent company is the US corporation Jones Lang Lasalle Incorporated.