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Belgian Leasinvest H1 2009 net current profit jumps 25% y/y.

(ADPnews) - Aug 24, 2009 - Belgian Leasinvest Real Estate (EBR:LEAS) reported a 25% annual rise in net current profit to EUR 10.7 million (USD 15.3m) for the first half of 2009.

The net current profit, which excludes changes in the valuation of the property portfolio, stood at EUR 2.67 per share in the first six months of 2009 versus EUR 1.99 a year earlier.

The group's net result plunged 40% to EUR 12.8 million, chiefly due to unrealised negative changes in the

portfolio.

First-half net rental income grew by 20% to EUR 19.6 million thanks to the acquisition of Luxembourg retail units at the end of 2008.

The portfolio's occupancy rate stood at 97.67% at the end of June, against 97.29% at the end of December 2008.

Leasinvest's intrinsic value per share rose slightly to EUR 67.41 from EUR 66.17.

(EUR 1.0 = USD 1.433)

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Publication:ADP News Belgium
Date:Aug 24, 2009
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