SFPI confirms profit figures
Swiss Finance & Property Investment (SFPI) confirms its provisional figures for the first half of 2016 announced at the end of August, according to which profit (excluding revaluation effects and deferred taxes) rose by 57% to CHF 10.5 million. Including these effects, however, it fell from CHF 14.9 million to CHF 13 million.
According to SFPI, operating income before revaluation effects almost doubled to CHF 32.1 million (previous year: CHF 16.4 million). The successful sale of the "Parco d'Oro" project contributed to this "very pleasing result", according to the real estate company.
Real estate income rose from CHF 9 million in the first half of 2015 to CHF 9.5 million. The value of the real estate portfolio increased by around five percent to CHF 470.3 million. The vacancy rate fell significantly from 7.3% to 2.9% as at June 30. The company's equity ratio stands at 42%.
SFPI is confident about the second half of the year. According to SFPI, the focus will be on letting the remaining office space on Witikonerstrasse in Zurich and individual commercial spaces in the city of Basel. The company also assumes that the low vacancy rate will stabilize at this level. Accordingly, rental income is expected to continue to rise while costs remain highly sensitive. (ah)
