By Joe Hoppe
Globalworth Real Estate Investments Ltd. said Wednesday that its portfolio value increased by 1.7% to 3.2 billion euros ($3.2 billion) in the first half of 2022.
The London-listed property company said the increase was driven by new acquisitions and developments. The like-for-like appraised value of its commercial properties rose 0.8% since the end of 2021, to EUR2.8 billion.
Annualized contracted rent rose 2.5% to EUR188.4 million compared with the end of 2021. Net operating income for the half fell 3.2% to EUR69.9 million from the prior-year period.
Globalworth made a pretax profit for the period of EUR45.7 million, significantly up from EUR18.8 million a year prior. This reflects a swing to fair value gains on investment properties, and revenue that rose to EUR116.6 million, from EUR108.1 million.
The board declared an interim dividend of 14 European cents a share.
Write to Joe Hoppe at
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