Colonial Records Profit Of €5.8M In Q1 2015, Up 132%

8 May 2015 – Expansión

The real estate company Colonial increased its rental income by 3.77% during the first quarter (of 2015) to reach €55 million and its net profit rose by 132%, to €5.8 million. These results do not take into account the €674 million profit recorded last year, due to an accounting entry that resulted form the deconsolidation of Asentia.

Colonial attributed its improved result to the recovery in the real estate market in Paris, Madrid and Barcelona, where it owns (most of its) property. The group has improved the occupancy rate of its buildings as well as the rental income it charges.

Original story: Expansión (by M.A.)

Translation: Carmel Drake