PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
French SIIC Affine boosts cash-flow but hit by asset falls, debt rise
French REIT/SIIC Affine posted a 34.4% increase in 2008 operational cash flow to e47.7m, and a 3.4% raise in like-for-like profit thanks to a 15.8% increase in rents. But it recorded a net loss for the year of e37.3m, turning round e92m profit in 2007 on the basis of a near-15% depreciation of its asset portfolio. Net asset value per share fell 22% to e34.6 but Affine will propose a e1 dividend.