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(Alliance News) - Globalworth Real Estate Investments Ltd on Friday reported a sharp rise in profit largely due to fair value gains, and helped by a double-digit revenue rise.
In 2019, revenue climbed 15% to EUR222.2 million from EUR192.8 million. Pretax profit jumped 80% to EUR207.7 million from EUR115.3 million.
Globalworth booked EUR117.7 million in fair value gains on its investment property, up sharply from EUR34.1 million in 2018.
Meanwhile, EPRA net asset value per share edged 2.9% higher year-on-year to EUR9.30 from EUR9.04.
Shares in the company were flat at EUR9.00 each in London on Friday afternoon.
During 2019, Globalworth completed 11 new real estate investments for a total of EUR613.8 million.
By Eric Cunha; ericcunha@alliancenews.com
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