Italy’s IGD remains stable in difficult markets – report
Italian real estate company Immobiliare Grande Distribuzione has reported consolidated management revenue of €60.5m for the first half of 2013, slightly lower than the same period last year.
IGD, which owns and manages shopping malls and supermarket distribution, is listed on the Italian Stock Exchange. Its total net profit of €4m over the period is half compared with the same period in 2012 – €8.3m.
As the half-year report says, the decrease was due to the effect of fair value fluctuation in real estate .
Funds from Operations remain fairly stable compared with 2012, posted as €17.6m.
The company’s net financial position was of €1.086bn, stable compared with the end of 2012 (€1.089bn.)
Claudio Albertini, CEO at IGD, said: “In such a difficult context, carachterised by a general crisis, our group has managed to keep its financial situation stable compared with 2012.”