Corio's Q1 2012 direct result increased by 2.6%
(Thomson Reuters ONE) -
FINANCIAL HIGHLIGHTS Q1 2012
(Comparative figures for Q1 2011 results in brackets, unless stated otherwise)
· Net rental income up 3.3% at ? 101.2 m (? 98.0 m).
· Like-for-like net rental growth retail portfolio: 1.4% (2.1%).
· Footfall on like-for-like basis increased 1.1%.
· Positive reletting and renewals: 2.7% up for 1.9% of the retail contracts.
· Financial occupancy rate for the retail portfolio increased slightly: 96.2%
(96.0%).
· Net direct financing expense down ? 1.5 m to ? 24.6 m (? 26.1 m).
· Direct result up 2.6% to ? 67.9 m (? 66.2 m).
· Direct result per share up ? 0.01 to ? 0.74 (? 0.73).
· Valuation retail portfolio stable, revaluations retail ? 8.0 m negative (?
28.4 m).
· Net result at ? 40.1 m (? 87.1 m).
· Value of the property portfolio: ? 7,457.8 m at 31 March 2012 (year-end 2011:
? 7,426.5 m);
· Percentage invested in retail: 97% (year-end 2011: 97%).
· Leverage: 40.9% at 31 March 2012 (year-end 2011: 41.0%); average interest rate
Q1 2012: 4.1% (Q4 2011 4.1%); fixed interest debt 69% (year-end 2011: 64%).
· Corio closed ? 250 m under a Euro Commercial Paper program.
· Pipeline: decrease of ? 150 m to ? 2,362 m (31 December 2011: ? 2,512 m).
· Committed pipeline (including already paid of ? 120.7 m) decreased ? 175 m to
? 751 m.
· Net Asset Value (NAV) per share at ? 45.98 (year-end 2011 ? 45.57), NNNAV per
share at ? 47.45 (year-end 2011: ? 47.15).
BUSINESS HIGHLIGHTS Q1 2012
· Corio sold the office in Böblingen in January 2012 for ? 14.9 m.
· Opening of Arneken Galerie in Hildesheim (investment of: ?110.3 m, NTY: 6.8%).
· Opening of Tarsu shopping centre in Tarsus (investment of: ? 53.7 m, NTY:
8.7%).
EVENTS AFTER REPORTING DATE
· Corio closed an additional ? 80 m under a Euro Commercial Paper program in
April 2012.
· The redeveloped top floor of Maremagnum was opened in April 2012.
· Corio's AGM approved the proposed dividend of ? 2.76 in cash or shares, in
line with its long standing policy to increase dividend per share with average
inflation in the euro zone.
Press release:
http://hugin.info/134201/R/1611129/512345.pdf
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Source: Corio NV via Thomson Reuters ONE
[HUG#1611129]
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2012 - 18:00 Uhr
Sprache: Deutsch
News-ID 145271
Anzahl Zeichen: 2897
contact information:
Town:
Utrecht
Kategorie:
Business News
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