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CBRE sees concrete growth
CB Richard Ellis, one of the world’s largest commercial real estate service companies, posted a second-quarter net profit yesterday and its strongest revenue growth since 2007. The company said its net income was $54.8m (£35.2m), compared with a net loss of $6m a year ago after a major restructuring. Revenue for the Los Angeles-based company rose 23 per cent to $1.2bn. Analysts, on average, had expected $1.1bn. Global property sales increased by 61 per cent, led by a 93 per cent improvement in sales in Europe.