The Exchange appreciates the good results of Unibail-Rodamco
Posted by adminUnibail-Rodamco's share climbed on Thursday at the Paris Bourse. Investors welcomed in particular the performance of Real Estate and Commercial group in the first half of fiscal 2010 accounts are pressed into the green with a net profit of 1.128 billion euros in the first half, due to an increase of 972 million euros of the value of its property assets, against a loss of 1.358 billion euros a year earlier.
But the announcement was particularly flattered by stock traders is that the group will distribute 1.8 billion euros to its shareholders or 20 euros per share. This amount corresponds to the volume of disposals and acquisitions made since the merger between Unibail and Rodamco in 2007.
Slimming
With a recurring earnings per share up 0.4% in the first half, Unibail-Rodamco has a performance consistent with its objectives.But the group is far from his exploits of last year that its recurring net profit was up 7% free 3-in-1 credit report.
Not enough to disturb the land that continues to develop its music strategy. She gives regular malls small or medium. In the first half, she sold the center of Saint Martial in Limoges. "For the first six months of the year, we achieved sales of EUR 1.2 billion, says Guillaume Poitrinal. And by the end of 2011, we plan to divest $ 2.5 billion. "The group which operates 97 malls should have more than sixty by 2012.
Goldman Sachs believes that these results show that the direction to Unibail remains "very disciplined in its management, both strategic and financially."
Kepler Capital Markets welcomed the strategy of maximizing the value of its portfolio through a focus on the business assets of the largest and most profitable, and the increase in the debt ratio from 31% to 40%.
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