A strong increase in rents from shopping centre properties helped lift Klepierre's total revenues in 2006 by 16% to EUR 568.6 mln. The office segment also turned in a strong performance with rents on a constant basis up 11.9% thanks to a high occupancy rate of 98.7%.
A strong increase in rents from shopping centre properties helped lift Klepierre's total revenues in 2006 by 16% to EUR 568.6 mln. The office segment also turned in a strong performance with rents on a constant basis up 11.9% thanks to a high occupancy rate of 98.7%.
Klepierre now generates almost half (49.3%) of its shopping centre rents outside France, notably in Italy (16.1%), Spain (13%) and Hungary (6.4%). Shopping centres accounted for the bulk of Klepierre's revenues in 2006, or EUR 458.1 mln of the total, an increase of 15.2% year-on-year. Income from offices slipped slightly year-on-year by 0.1% to EUR 52.8 mln.
Management is upbeat in its forecast for the current year. 'Driven by robust investment and rental inversion, group revenues are expected to show double digit growth in 2007 for the sixth year in a row,' the company said in a press statement.
