H1 2018 Results gross rent of €21.4 million, +4.1 % progress
H1 2018 RESULTS
Gross rent of €21.4 million, +4.1 % progress
For the first half of 2018, gross rental income of the operating property portfolio reached €21.4m, up +4.1% compared to the same period last year.
|in € m – year to date||H1-2018||H1-2017||Variation||%|
|Total gross rental income||21.4||20.6||+0.9||+4.1%|
This increase is mainly due to the full-year effect of acquisitions, partially offset by the disposal and restructuring of assets.
During the first semester of 2018, Patrimoine & Commerce increased its presence in Bourg-en-Bresse (Ain) with the acquisition of a 930 m² commercial unit adjacent to a property acquired in 2017. In addition, Patrimoine & Commerce invested in a 5,130 m² property leased to Conforama and located in Lannion (Côtes-d’Armor).
Global investment in these properties summed €4.2m generating €0.32m in annual rent.
Patrimoine & Commerce disposed of ground-floor shops located in Gif-sur-Yvette (Essonne), Montfermeil (Seine-Saint-Denis) and Paris as well as a commercial property located in Jouy-aux-Arches (Moselle). These sales totaled €12.4m in line with appraisal values.
2017 dividend distribution of €1.15 per share
The general assembly, held on the 27th of June 2018, approved a dividend payment of €1.15 per share. Shareholders can opt either for a payment in cash or in new shares of the company. The submission deadline for the share payment is July 20th.