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28 May 2012

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Unibail-Rodamco returns to profit at E2.2bn

Giant French-Dutch REIT Unibail-Rodamco said its core business is growing strongly after a return to profit in 2010 and posted net profit of E2.19bn after two years of losses. Recurring EPS rose 0.9% but CEO Guillaume Poitrinal said the real performance is more impressive. Its portfolio rose 8.6% in value to E24.5bn like-for-like. Fully diluted NAV slid 2.8% to E124.60.

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