PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
French shopping mall REIT Altarea narrows group net loss, confident for 2010
French shopping centre REIT/SIIC Altarea Cogedim saw a marked increase in recurring net profit in 2009 and a narrowed group net loss, and said it is confident about the outlook for 2010 when it expects a further significant improvement in earnings. "All of Altarea Cogedim's financial indicators - in particular recurring net profit - should improve significantly in 2010," said Chairman and Founder Alain Taravella.The investment portfolio was marked 1.6% higher to E2.3bn in 2009 but NAV declined 11% to E105.4 per share on a liquidation basis. Loan to value was up to 55.7% from 53.4%. (See upcoming PIE Editions for full story)