Revenue up 10% at JLL as capital markets shows ‘modest growth’

JLL has reported a 10% increase in revenue to $10.7bn (£8.4bn) in the six months ended 30 June, with its Work Dynamics business driving growth. Work Dynamics recorded a 14% increase in revenue to $7.5bn during the period, helped by a 19% increase in workplace management business. Advisory was the next best performer for JLL, delivering a 5% increase in revenue to just over $2bn, with capital markets not far behind with a 4% increase in revenue to $835.3m. Chief executive Christian Ulbrich said: “We are pleased with our second-quarter results as Work Dynamics led strong, resilient revenue growth and our transactional business lines benefited from investments we have made to take advantage of greater commercial real estate activity. “Our bottom-line performance demonstrated the success of our recent and ongoing cost management efforts. In addition to remaining focused on scaling our platform as we anticipate future growth, our connected and diversified platform, along with strategic investments to further differentiate our business, will enhance long-term stakeholder value.” JLL Technologies and LaSalle both lagged for JLL in the half-year period and in Q2. Half-year revenue was down by 10% and 20% respectively to $110.3m and $206m. Jll said the decline in its Technologies business was due to lower contract signings and delayed decisions on technology spend from clients. LaSalle’s declining revenue was caused by an expected decline in incentive fees compared with 2023 and a reduction in advisory fees due to declining assets under management. At 30 June, LaSalle had  AUM of $86.6bn, compared with $93.2bn a year earlier.