Sirius Real Estate profits on the rise as portfolio tops £1bn
Sirius Real Estate Ltd
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Germany-focused property investment firm Sirius Real Estate saw profits rise throughout the first half of its trading year on the back of improved rental income and a rising portfolio value.
Pre-tax profits rose 43% in the six months ended 30 September to €78.2m, as rental and other income from investment properties rose 16.6% to €40.8m.
Sirius' portfolio book also rose in value, up 7.9% to £1.05bn.
Chief executive Andrew Coombs, said: "In the first half, we achieved a significant milestone, exceeding the €1bn mark for assets owned."
Coombs stated that occupier demand for industrial assets and secondary offices in the European nation had "never been greater."
"We believe this market will continue for some time and Sirius is very well positioned to take advantage of it," he added.
Sirius declared an interim dividend of 1.63c per share - a 4.5% year-on-year uptick.
As of 1105 GMT, Sirius shares had ticked up 2.02% to 60.60p.