London-listed German property operator Sirius has reported 19.7% growth in its portfolio, which hit €823.3m (£723m) in the year to March.
Like-for-like portfolio valuation rose by 8.5% to €58.3m as its EPRA NAV pre share rose by 9.7% to 57.84c and earnings per share grew by 69.1%.
The company, which moved to the London Stock Exchange’s main market in March, saw its like-for-like annualised rental income increase by 5.1% to €65.6m.
It announced a 32% increase in dividend payments for the year, with a final dividend of 1.53c – up from 0.92c in 2016.
Andrew Coombs, chief executive of Sirius, said the results were encouraging as the company looks to increase its portfolio by 50%. “We have the operating platform in place today to support our expansion plans and alongside this we have the local market knowledge and expertise to uncover value form more complex assets as we have been doing since inception,” he said.
“There continue to be opportunities for us to acquire these types of sites at discounted values as others see the possible problems ad we see potential.”
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