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- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
Disposals boost Icade's 2009 profit 69%
French SIIC/REIT Icade posted a 69% rise in 2009 net profit to E527m but the increase was almost entirely due to disposals, with turnover down 5.8% and the value of the property portfolio marked down 10.3% like for like. Profit from disposals rose to E533m from E296m as Icade pursued its strategy of extracting capital gains from mature assets and using these resources for acquisitions. (See upcoming PIE editions for full story)