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The firm recorded the increase in profits as revenues at Jones Lang Lasalle Ltd increased by 14pc from €18.22m to €20.72m last year. The pre-tax profits of €3.85m follow pre-tax profits of €2.36m in 2023. The directors state that the business has continued to trade profitably in 2024 and 2023 with a year-on-year increase in turnover by 14pc and net profit by 57pc. The directors state that they are confident about the future prospects for the business. The company is engaged in provision of advice on all aspects of commercial and residential real estate. Last year, JLL’s business benefited from the largest single asset sale since 2016, with the sale of Blanchardstown Shopping Centre for €562m in the final quarter of the year. JLL and Eastdil Secured were jointly mandated to sell the Blanchardstown Centre. The JLL business also benefited in 2024 from the hotel sector enjoying robust activity with volumes of €1bn. The Irish unit’s revenues were also boosted by retail recording its most active year for investment since 2016 with €1.05bn invested over 31 deals, according to the JLL Dublin Capital Markets Market Dynamics Report. JLL is lead here by CEO John Moran. Operating profits at Jones Lang Lasalle Ltd increased from €21,000 to €1.26m in 2024 and the company’s profits were boosted by net interest receivable of €2.58m resulting in the pre-tax profit of €3.85m. Numbers employed remained at 110 made up of 99 professionals, eight in support and three directors. Pay – including directors’ pay – increased from €12.77m to €13.47m. Directors’ aggregate pay reduced from €1.09m to €996,000. The profits take account of non-cash depreciation costs of €272,000 and rents paid of €762,000. Accumulated profits totalled €75.29m. The directors state: “By design, the company has a naturally very resilient business model, which would be able to sustain periods of revenue significantly below current trading levels without needing to draw on external facilities or cut costs, through the flexibility built into the company's bonus system which tracks the operating profit of the company.” They state that “in the event of any prolonged period of lower revenue, the directors would take mitigating action, such as reducing overheads”.
