Zurich-based property firm Allreal booked a net profit, including revaluation gains, of EUR 54.3 mln in 2007, up 9.9% over the previous year. Operating profit was also up at EUR 43.4 mln compared to EUR 42 mln in 2006. Cash flow rose to EUR 72.2 mln up from EUR 33.8 mln in 2006.
Zurich-based property firm Allreal booked a net profit, including revaluation gains, of EUR 54.3 mln in 2007, up 9.9% over the previous year. Operating profit was also up at EUR 43.4 mln compared to EUR 42 mln in 2006. Cash flow rose to EUR 72.2 mln up from EUR 33.8 mln in 2006.
The company's property assets were valued at EUR 1.2 bn, up 7%, and giving a net yield of 5.2%. The company attributed the gains to the projects and development division which contributed earnings of EUR 48.6 mln. A capital increase during the fourth quarter of 2007 resulted in net proceeds of EUR 111.5 mln, giving the company scope to make investments of over EUR 555 mln.
