Retail Estates - Solid H1 results
HY results closed Sept. 30 - EPRA results at EUR 44.5m, up 14% YoY on the back of strong indexation and the contribution of last year's acquisitions. EPRA EPS landed at EUR 3.13 per share, up 10.2% YoY.Occupancy stood at 98.12%, up 4bps vs March end.Portfolio fair value stood at EUR 1.93bn, up 2.2% vs March end due to portfolio expansion and positive portfolio revaluation (+EUR 40m). Gross yield stands at 6.94%, stable vs March end. Debt ratio declined 23bps to 44.54%. Including the acquisition of Alexandrium II Megastores closed on 4 October, debt ratio would be at 46.56%.The companyRetail Estates is a niche fixed-capital real estate investment fund that invests in retail properties located on the periphery of residential areas or along access roads to urban centers. Co. buys properties from third parties or builds and markets shop premises for its own account. The outlets have a built on surface areas of between 500m2 and 3,000m2. A typical retail property has an average surface area of 1,000m2. As of Mar 2010 Co. had 399 premises in its portfolio. The retail lettable area amounted to 398,754m2.
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