Corio's first quarter update
(Thomson Reuters ONE) -
Business update for the period 1 January - 31 March 2013
During our Capital Markets Day on 4 December 2012 Corio presented a full
strategy update. Based on our vision on the future of consumer spending we
presented our plans, which resulted in the following objectives:
- Grow Net Rental Income in the FMP portfolio with 4% - 6% per year
- Dispose of the ? 1.4 billion TRC portfolio over 3 - 4 year
- 10% reduction of administrative expenses relative to GTRI
Our business updates as well as our half year and full year reports will focus
on the FMP portfolio and address these topics as they are crucial to the success
of our company. Additional information on the TRC portfolio can be found in the
appendix.
Gerard Groener, CEO: "It's encouraging to see how our strategy shows resilience
under difficult macro-economic circumstances. Our operational performance
indicates that we are able to offset or mitigate the impact of the existing
economic trends.
Our focus on FMPs proves to be the right one. We have grown our NRI in that area
in line with our objectives. Furthermore retailers clearly recognize the
attractiveness of our FMPs, hosting over 350 million visitors on an annual
basis. To retain this interest in our centres, we need to continue our efforts
in marketing and innovation. We will further develop programs that bring us
closer to the consumer and establish ongoing communications with them. After a
pilot and successful introductions of loyalty programs in Italian centres, we
have started the first loyalty program outside Italy in Alexandrium in
Rotterdam, in January of this year. More centres will follow during the course
of 2013.
The ongoing focus on the development of our FMP portfolio and our commitment to
further improve the efficiency, gives me confidence that we are in the right
place to remain well on track even against this backdrop of negative retail
spend throughout our home markets."
CONFERENCE CALL Q1 2013 UPDATE
Gerard Groener (CEO) and Ben van der Klift (CFO) are available for questions on
Thursday 16 May 2013 at 10.00 CET. You can listen to the call and ask questions
by dialling: +31 (0)20 7965 008 (the Netherlands) or +44 (0)20 7162 0077,
Conference ID: 932256. You can also listen to the call via: :
http://corio.dutchview.nl/corio20130516-an. More details about the audiocast and
call (more toll free numbers) can be found on Corio's website: http://www.corio-
eu.com/other-news.html.
Press release:
http://hugin.info/134201/R/1702288/562429.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Corio NV via Thomson Reuters ONE
[HUG#1702288]
Unternehmensinformation / Kurzprofil:
Datum: 15.05.2013 - 17:45 Uhr
Sprache: Deutsch
News-ID 260504
Anzahl Zeichen: 3350
contact information:
Town:
Utrecht
Kategorie:
Business News
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"Corio's first quarter update"
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