the socimi Spain reported this Monday that he obtained a net profit of 6.6 million euros during the first quarter of the yearwhich means a decrease of 8.3% compared to the same period in 2021. “Excluding the decrease in rents and the effect of the sale of the 22 supermarkets in February 2021, the recurring net profit of the socimi would have been 13.6 million euros in the first quarter of this year, 14.1% higher than the 12 million euros of the same period last year”, this investment group in real estate assets specialized in shopping centers explained in a statement.

Refering to turnover of Lar España, this amounted to 20.6 million, which represents a slight decrease compared to the 20.9 million in the period between January and March of the previous year. The drop, the socimi has pointed out, was due to the aforementioned sale of 22 supermarkets (for which Blackbrook disbursed 600,000 euros) and the rent discounts agreed during the pandemic.

“Without this double effect, recurring revenue for the first quarter of 2022 would have been 24.4 million, 1.2% more than the 24 million recurring revenue achieved between January and March of last year,” added the listed socimi in a bag.

In the first quarter of the year, the socimi registered final sales worth 215.1 million, which represents 29.2% more than last year and 8% more than in the first quarter of 2019. For its part , the occupation of the 14 parks and shopping centers was 96%, with 18.4 million visits, 22.8% more than in the same period of 2021.

The Socimi will pay on May 27 a dividend of 30 million euros to its shareholdersabout 36 cents per share, “which is equivalent to a return per share at the end of last year of 7%”, highlighted Lar España.



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