Corio reports stable direct result of EUR 204m

Dutch retail property giant Corio has reported a direct result of EUR 204 mln for 2008 compared to EUR 203 mln the year before. Per share, the result came to EUR 3.08 compared to EUR 3.07 per share in 2007.

CEO Gerard Groener commented: 'In today's financial environment Corio’s strong portfolio has proved to be resistant to the economic downturn. While in September 2008 a large portfolio of offices and industrials was sold, the direct result increased by 0.5%.'

Groener said he expected stable operating profit for 2009. The value of Corio's portfolio fell 6.5% to EUR 6 bn compared to 2007.