SFPI: Profit rises significantly
According to preliminary, unaudited figures, Swiss Finance & Property Investment AG (SFPI) closed the 2015 financial year with a net profit (excluding valuation effects) of CHF 12.6 million, compared with CHF 10.1 million in the previous year.
Earnings before interest and taxes (EBIT) amounted to CHF 31 million in the 2015 financial year (previous year: CHF 16.5 million) and net profit to CHF 22.7 million (previous year: CHF 10.5 million). According to SFPI, the increase in EBIT and net profit was boosted by revaluation and sales successes.
As the company writes further, SFPI, as the 40% co-owner of the Klausstrasse 4 property in Zurich, was able to conclude an important long-term rental agreement for 1,184 sqm of office space with an international asset manager from January 2016 together with the co-owners' association. This will reduce the vacancy rate of the office property by more than half and the overall vacancy rate in SFPI's portfolio from 7.3% to 5.7%.
SFPI plans to publish details of the business results and the report on the 2015 financial year on March 8, 2016. (ah)
