Lar España’s Profits Doubled In 2016 To €91.4M

2 March 2017 – El Economista

Lar España generated a net profit of €91.4 million in 2016, more than double (+110%) the amount it recorded a year earlier, thanks to the purchase of new assets and an increase in the occupancy rate of its real estate portfolio, according to a statement made by the Socimi, which specialises in shopping centres.

The company chaired by José Luis del Valle (pictured above) saw its revenues soar by 69% last year, when it recorded rental income amounting to €60.2 million.

At the end of 2016, the company’s portfolio of assets was worth €1,275 million, which represents an appreciation of 16%, and of 13.5% in the case of its shopping centres.

At its next general shareholders’ meeting, Lar España will propose the distribution of a dividend amounting to €0.33 per share, which will represent a 65% increase in shareholder remuneration.

Original story: El Economista 

Translation: Carmel Drake