15th Sep 2020 15:00
Phoenix Spree Deutschland Ltd - investment company specialising in German residential real estate - Reports a 2.8% rise in EPRA net asset value per share to EUR5.06 as at June 30 from EUR4.92 at the end of 2019. In sterling, EPRA NAV per share was up 11% at GBP4.60 from GBP4.16. Portfolio value at EUR746.7 million, up 2.3% from EUR730.2 million and up 2.6% life-for-like. Increase in like-for-like portfolio value, adjusted for acquisitions and disposals, driven by the combined impact of modest yield compression, supported by a decline in interest rates, and the active management of the portfolio. Pretax profit rises to EUR15.3 million from EUR12.0 million. Dividend maintained at 2.35 euro cents per share.
Current stock price: 314.00 pence
Year-to-date change: down 1.9%
By Anna Farley; [email protected]
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