GLOBAL - Jones Lang Lasalle reported revenues of US$1.39bn for the full year 2005, up 19% from the year before aided by growth in all operating segments. The real estate services and money management firm reported a net income increase of 61%, rising from $64m in 2004 to $104m. For the fourth quarter of 2005, net income was $67m, compared to $50m for the same period in 2004.
Operating income for the year was $132m compared with $90m for 2004, representing an increase of 47%.
Operating expenses were $413m for the fourth quarter of 2005 compared with $353m Q4 2004.
Colin Dyer, JLL chief executive said he was “extremely pleased” with the results.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.