The outgoing chief executive of European shopping centre owner Eurocommercial Properties has said a “clear resurgence” of Covid-19 is a worry for the group following a pick-up in business during recent months.
Jeremy Lewis said the past quarter had “reassured us that our shopping centres remain popular with our tenants and clients, notwithstanding continuing anti-Covid-19 restrictions of one kind or another”. He pointed to “a significant improvement in fashion sales”, which had plunged during European lockdowns.
However, Lewis said: “There is clearly a resurgence of Covid-19, which is of concern to us all.” He highlighted the situation in Italy as certain to have “an impact on both visitor numbers and turnovers for the coming winter months”.
The company, which owns shopping centres in Belgium, France, Italy and Sweden, said revenue for the 15 months to 30 September of €288.4m (£262m) was marginally down year-on-year. Profit before tax plummeted to €7.6m from €88.4m, while the company’s so-called “direct investment result” – net property income less interest expenses and company expenses after tax – was slightly down at €148.6m.
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