28 October 2016 | Jamie Harris
Corporate real estate business CBRE has reported "solid" financial results for the third quarter of 2016, and for the first nine months of 2016.
It reported revenues of $9.25 billion (£7.62 billion) for the nine months to 30 September 2016 - a rise from $7.16 billion (£5.89 billion) for the same period in the previous year.
In the EMEA region revenues were reported at $2.77 billion (£2.28 billion), up from $1.82 billion (£1.50 billion) in the first three quarters of 2015.
EMEA profit before tax and other deductibles (EBITDA) was reported at $101.7 million (£83.7 million), down from $114.3 million (£94.1 million) the previous year.
CBRE attributes the fall in profit to performance in the third quarter, which it says were negatively affected by $7.2 million (£5.9 million) of currency movement because of the sharp decline of the pound.
In the UK, CBRE says its overall revenue "grew by 20 per cent in local currency, or 8 per cent excluding the acquired Global Workplace Solutions business".
It says that growth occurred despite market slowdown after the EU referendum result.
Overall, CBRE says its outsourcing growth has grown significantly. It reports signing 113 outsourcing contracts in Q3 2016, which include facilities management and project management services.