Jones Lang LaSalle Incorporated Q2 2009 Earnings Call Transcript

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2009-08-05 11:20:51.0

Tags: Transaction, Call Transcript, Inflow, Earnings, Lauralee Martin Q2, Sales Strategy, Sales Force Management, Asset Management, Sales, Operational Planning, Business Operations, Seeking Alpha, Jones Lang LaSalle Inc.

Question-and-Answer Session

Operator

(Operator instructions). Your first question comes from the line of Mark Biffert with Oppenheimer.

Mark Biffert – Oppenheimer

Good morning. Colin, I was hoping you could, you maybe provide some of the color and feel the kind of ties to EBIDTA. I mean last -- the last half of last year had about $191 million to $192 million of EBIDTA. I'm just wondering how all that transaction activity that you mentioned translates into EBIDTA growth through the second half of this year and whether you think you can surpass the numbers you reported in the last year.

Colin Dyer

Well, let's first say clearly that we don't provide any guidance on some of the question, one part of that question would lead us into guidance territory. So we don't give that, but I mean the examples of the transactions, which we just been through were intended to show you a couple of things. First of all that there is business activity out there in what are widely seen to be really depressed transaction markets worldwide, and we further benefited from some of the best of those transactions with the leading sales positions developed in the UK with the sale of the largest transactions are involved in the largest transactions across the major European economies in particular. I think it also demonstrates the fact that we are being proactive in building or continuing to build teams where we think that's appropriate in some markets, but also in retaining our key talents so that we can get these sorts of transactions done.

Mark Biffert – Oppenheimer

Okay, and then in terms of fund flows that you're seeing into LaSalle Investment Management, you guys looks like brought in a little over $1 billion into that and what kind of inflows are you seeing quarter to date into that space and do you expect that to move higher and possibly benefit some of your management fees in that business?

Colin Dyer

By quarter to date you mean Q3.

Lauralee Martin

Q2 are you asking?

Mark Biffert – Oppenheimer

Is it a quarter behind, is that what you're reporting in terms of the inflows?

Lauralee Martin

No, I'm sorry the inflows we report for the quarter that just occurred, we report the assets under management on a one quarter lag because it just doesn't get reported and rolled up until that period of time.

 

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