JLL Reports Strong Q1 Showing, Despite Market Turmoil
JLL shrugged off the early 2016 market turmoil for a strong Q1 showing, posting an 82 cent adjusted earnings/share for the quarter.
The posting is still a slight dip from Q1 '15's 97 cents/share, but looks a few shades better than the performance of the world's largest landlord, Blackstone, who posted a 75% drop in profits for Q1 '16. (Though the PERE giant did just break $100B in real estate assets.)
Total revenue for the quarter climbed 14% to a cool $1.3B—the firm's Europe, Middle East and Africa segment led that growth with an 18% increase.
“While 2016 started slowly, real estate markets regained traction as the quarter progressed, and we expect this momentum to continue, indicating another excellent year for our company," JLL CEO Colin Dyer said in a statement.
Colin's bullishness might be cut short, though. Some experts (and industry titan Sam Zell) are predicting a recession in 2016—and even the world's largest asset manager, BlackRock, is predicting dismal returns on the horizon.
