Dawnay Day Treveria, a UK investor in German retail property, have reported adjusted profits after tax of EUR 20 mln, up from EUR 11 mln for the same period last year. New property assets over the period were valued at EUR 326 mln, with revenues of EUR 67.8 mln. Total property assets now stand at EUR 2.1 bn compared with EUR 1.2 bn in 2006.
Dawnay Day Treveria, a UK investor in German retail property, have reported adjusted profits after tax of EUR 20 mln, up from EUR 11 mln for the same period last year. New property assets over the period were valued at EUR 326 mln, with revenues of EUR 67.8 mln. Total property assets now stand at EUR 2.1 bn compared with EUR 1.2 bn in 2006.
Chairman Ian Henderson said Trevweia was 'very closely' monitoring the German market for signs of the effects of the turbulence in the global economic market. 'It may create opportunities as the current credit squeeze drives out the highly leveraged financial buyers, hence potentially reducing the competitive environment. In the meantime, our existing portfolio has numerous value enhancing asset management opportunities and irrespective of what happens in the wider global market, we intend to continue to work on our portfolio to extract maximum value for our shareholders,' he said.
