CBRE records €1.16m profit

The Irish arm of property firm CBRE last year returned to profit after revenues jumped by 55% to €11.6m.

New figures show that the US-owned CBRE last year recorded a pre-tax profit of €1.16m after recording a pre-tax loss of €4.57m in 2012 — a positive swing of €5.73m.

The pre-tax loss in 2012 arose mainly from an onerous lease provision of €2.56m and restructuring costs of €109,105 following an operating loss of €1.99m.