Sponda Plc's interim report January-June 2006
Sponda's operating profit increased by 59 % during first half of the year
During the January-June period Sponda Group’s total revenue was EUR 52.7 million (30 June 2005: 51.9) and net operating income amounted to EUR 40.1 million (38.8). The company’s operating profit rose to EUR 46.3 million (29.1) due to both an increase in the property portfolio and higher property values. Demand for office premises was more lively than in the same period in 2005.
Highlights of the January–June result (compared with same period in 2005)
Total revenue was EUR 52.7 million (51.9). Net operating income grew to EUR 40.1 million (38.8). Operating profit rose to EUR 46.3 million (29.1) mainlybecause of an increase in the values of the company’s investment properties. Net profit in January-June was EUR 23.6 million (12.2). Earnings per share (EPS) was EUR 0.30 (0.15). Cash flow from operations per share was EUR 0.27 (0.29). The fair value of the investment properties at the end of the period was EUR 1 339.5 million (1 245.9). The change in the fair value was EUR 10.2 million. Net assets per share totalled EUR 7.12 (6.96). Investments in new properties and in improvements to the existing portfolio during the period amounted to EUR 69.8 million.
Highlights of the second-quarter result (compared with second quarter in 2005)
- Total revenue rose to EUR 26.0 million (25.8).
- Net operating income was EUR 19.7 million (19.4).
- Operating profit increased by EUR 8.8 million to EUR 23.1 million (14.3).
- Net profit in April-June period was EUR 11.1 million (6.0).
- Earnings per share were EUR 0.14 (0.08).
- Cash flow from operations per share was EUR 0.13 (0.14).
- Investments in new properties and in improvements to the existing portfolio during the period amounted to EUR 53.1 million.
Read the full report:
Q2/2006.Eng.pdf
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