Procimmo Swiss Commercial increases earnings
The Procimmo Swiss Commercial Fund reported net income of CHF 27.4 million for the 2018/19 financial year, compared with CHF 24.1 million in the previous year.

According to Procimmo, the rental income of Procimmo Swiss Commercial increased to 53.7 million as at the end of June 2019, up from 52.8 million in the previous year - despite the fact that buildings were sold during the reporting year. At 15.17%, the rental loss rate was roughly on a par with the previous year (15.28%), while the vacancy rate fell from 11.27% to 10.15%.
Income of 59.4 million (previous year: 53.5 million) was offset by expenses of 32.1 million (previous year: 29.4 million). The operating profit margin (EBIT margin) fell fromTP3k 65.101 million in the previous year toTP3k 62.521 million.
As a result of the capital increase in June 2019, the fund's equity rose to 742.9 million (previous year: 664.4 million). Total fund assets increased from 928.2 million to 977.4 million. According to Procimmo, the billion mark is expected to be broken in the short term. The TER REF (GAV) rose from 0.92% to 0.95%.
The fund will distribute a dividend of CHF 5.40 per unit, Procimmo announced. The return on investment as at June 30, 2019 is estimated at 4.73% and the net asset value at CHF 138.45 per unit. (ah)