Belgian real estate company Cofinimmo has posted a nine-months net profit of EUR 86.6 mln, up from EUR 62.163 mln a year earlier. Net earnings per share was EUR 8.91, compared with EUR 6.40 in the same period last year. Rental income fell to EUR 101.8 mln from EUR 109.8 mln. 'Save for unforeseen events,' Cofinimmo said, it expects to meet its full-year target of net earnings per share of EUR 8.46. It has committed itself to paying a gross dividend per share of EUR 7.40.
Belgian real estate company Cofinimmo has posted a nine-months net profit of EUR 86.6 mln, up from EUR 62.163 mln a year earlier. Net earnings per share was EUR 8.91, compared with EUR 6.40 in the same period last year. Rental income fell to EUR 101.8 mln from EUR 109.8 mln. 'Save for unforeseen events,' Cofinimmo said, it expects to meet its full-year target of net earnings per share of EUR 8.46. It has committed itself to paying a gross dividend per share of EUR 7.40.
Cofinimmo is currently at the centre of a row over its nomination to be the Belgian government's venture partner to manage a EUR 1.2 bn portfolio of public buildings. The joint venture process was suspended after two other real estate companies. Axa Belgium and Befimmo, mounted legal action to contest the decision to appoint Cofinimmo. Despite the setback, Cofinimmo has expressed confidence that the government decision will ultimately stand and it said in mid October that it is pressing ahead with its preparations to purchase the buildings before the end of 2006.
