Swiss property fund and developer Allreal booked net profit including revaluation gains of CHF 140.8 mln (EUR 116 mln) in 2011, a 21% increase on 2010. Earnings from business activities and the generally higher valuation of its real estate portfolio contributed towards the growth, the company said in a statement.
Swiss property fund and developer Allreal booked net profit including revaluation gains of CHF 140.8 mln (EUR 116 mln) in 2011, a 21% increase on 2010. Earnings from business activities and the generally higher valuation of its real estate portfolio contributed towards the growth, the company said in a statement.
Net profit excluding revaluation gains amounted to CHF 109.0 mln, due to a rise in rental income, stability at its projects and development arm, and the low cost of financing, the company said. Total sales grew significantly to CHF 886.1 mln, a 22 % rise over the previous year.
Allreal expects its operating results for 2012 to remain ‘very good’ but ‘probably’ slightly below this year’s level.
