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Colliers International posted record financial results in the final quarter of 2015, consolidating a strong third quarter.

The Toronto-based property advisory group recorded a 9% increase in adjusted earnings per share to $1.06 compared to the last quarter of 2014, while adjusted EDITDA (earnings before interest, tax, depreciation and amortisation) was up by 18% at $79.1 mln.

The figure was $0.10 ahead of Thomson Reuters’ consensus estimate. Colliers noted that falling foreign exchange rates brought down its adjusted EPS by around $0.13.

Revenues for the fourth quarter were $556.1 mln, a 3% increase on the previous quarter and 11% higher in local currency, but below the forecast level of $599.1 mln. Revenues for the full year stood at $1.72 bn, up by 9% (18% in local currency).

EPS for the year-end reached $2.29, a 25% increase on the previous year. Net earnings were $42.8 mln, compared with $32.3 mln in 2014.

Within the EMEA region Colliers reported Q4 revenues of $151.7 mln, compared to $149.6 mln in the previous year, while revenues for the year totalled $446.1 mln, 27% higher than the previous year’s figure of $352.4 mln and a 41% increase in local currency terms.

Outsourcing and advisory service accounted for 37% of total revenues for the full year, up from 34% in 2014.

Chairman and CEO Jay S. Hennick said: ‘2015 was a transformational year for Colliers International in so many ways. It was our first as a stand-alone public company; we strengthened our leadership team for the future; we reported record revenues and profits despite foreign currency headwinds; exceeded our double-digit margin target we set five years ago, one year earlier than expected; further strengthened an already strong balance sheet; and declared and paid our inaugural semi-annual dividend.

‘Perhaps most importantly, our real estate service professionals worldwide continued to demonstrate the Colliers difference by delivering exceptional results for our clients, resulting in strong internal growth across all service lines.’