Insider Media Limited

Property consultancy CBRE, which has an office in Bristol, has announced a 9 per cent increase in European revenue in final quarter of 2011 to $334.6m (£211.7m).

CBRE said its EMEA revenue (primarily European based) was up from $307.3m (£194.4m) for the fourth quarter of 2010. The increase was driven by growth in northern continental Europe and the UK, read a statement from the company.

"The Bristol office enjoyed an extremely good year with all disciplines achieving or exceeding expectations," said Garry Hicks, CBRE's managing director in the South West.

"We acted for CMS Cameron McKenna to secure 2 College Square and for Aerium to purchase One Glass Wharf which is let to Burges Salmon and was the largest office investment transaction ever completed in the city.

"I am confident that over the coming year we will continue to perform well. We have a strong team in place and clients continue to turn to us because we offer reliability and security plus an enviable breadth of experience supported by a high quality service."

In its final year results, Los Angeles, US-headquartered CBRE reported net income of $334.5m – a 39 per cent increase on the previous year. Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) totalled $802.6m in 2001, an increase of 18 per cent from $681.3m in 2010.

Results in CBRE's fourth quarter were also an improvement on its 2010 performance. Revenue hit $1.8bn, an increase of 7 per cent from $1.7bn in the comparable 2010 period.

The company signed 33 total outsourcing contracts in the fourth quarter, increasing the number of contracts for the year to 173 – which CBRE said was a new single-year record.