Logistics service providers
SEGRO: Increase in profit in 2015
Düsseldorf/London, 22.02.2016 - Logistics real estate developer SEGRO plc has presented its results for the financial year ending December 31, 2015. Pre-tax profit increased from 654.4 million pounds to 686.5 million pounds (equivalent to around 889 million euros).
Adjusted earnings per share of 18.4 pence represents an increase of 7% year-on-year (2014: 17.2 pence) and, according to the company, is attributable to higher like-for-like rental income, a historically low vacancy rate of 4.8%, new developments, acquisitions and lower ongoing construction programs and medium-term development projects are also expected to generate annual rental income of around £109 million over the next five years, which would currently represent 38% of SEGRO's current income.
Commenting on the results, David Sleath, CEO, said: "2015 proved to be another very good year for SEGRO and we can report a correspondingly strong result. The outlook for occupier demand remains positive and the new year has got off to a good start thanks to a well-stocked lettings pipeline and new development opportunities. Despite the numerous macroeconomic and geopolitical uncertainties, we expect our well-positioned portfolio to continue to grow and outperform the real estate market".
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