From minus to plus

In 2002 Jones Lang LaSalle Inc. made USD 27.1 mln, which was not bad considering last year's recorded loss of USD 15.4 mln. The company owes this success mainly to LaSalle Investment Management, effective management in South and North America, and stabilisation in the regions of Asia and the Pacific. Chris Peacock, President of Jones Lang LaSalle, has stressed that despite the difficult market conditions in Europe, the company not only succeeded in carrying out organisational changes but also reduced costs. In Europe, JLL's income amounted to USD 314.4 mln in 2002, 9 per cent less than in 2001. Even cutting costs did not compensate for the losses in operational profit, which on the Continent was over 50 per cent lower than in 2001 and totalled USD 17.7 mln. We asked Darren Battle, Managing Director of JLL Poland, about his branch's results. "Even though the market was tough, it was the best year for Poland. The retail and office agencies did best of all, in terms of