Portuguese retail property specialist Sonae Sierra has said net profit for the first nine months of 2007 came to EUR 206 mln, a 42% increase on the same period the year before. Direct net profit was up 18% to EUR 64 mln and the indirect net profit reached EUR 142 mln. Net asset value per share came to EUR 49.74

Portuguese retail property specialist Sonae Sierra has said net profit for the first nine months of 2007 came to EUR 206 mln, a 42% increase on the same period the year before. Direct net profit was up 18% to EUR 64 mln and the indirect net profit reached EUR 142 mln. Net asset value per share came to EUR 49.74

Sonae Sierra said the increase in net profit was due to improved valuations and value created by the inauguration of new shopping centres during the period. The Alexa shopping and leisure centre in Berlin, representing an investment of EUR 290 mln, and 8ª Avenida, in S. João da Madeira, an invest of EUR 54 mln, both opened their doors to the public in the third quarter of this year.