![Colonial Q1 Results: Net profit doubles on inflation-linked contracts, high occupancy](https://img.etimg.com/thumb/msid-110091724,width-210,height-158,imgsize-765180,resizemode-75/colonial-q1-results-net-profit-doubles-on-inflation-linked-contracts-high-occupancy.jpg)
The Barcelona-based firm posted a net profit of 54.5 million euros ($58.9 million) versus 27.8 million a year earlier.
Its portfolio, which includes buildings in Spain and France, rose 6% in like-for-like rental income as lease contracts were adjusted upwards due to high inflation.
Occupancy in buildings rented by the group stood at 97% on average, with properties in Paris at full levels.
Its net profit result did not include an updated valuation of its assets, which real estate companies are required to file every six months.
The real estate sector has been under pressure since the end of 2022, as volatile markets and tightening financial conditions have slowed property investment.
The European Central Bank is expected to cut rates in June after keeping them at a record high since last September, which should make investment in real estate more attractive.
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price