Rodamco Asia: full year net profit up 50%

In the financial year 2001/ 2002 (1 March 2001 – 28 February 2002), Rodamco Asia N.V. achieved a net profit of EUR 26.2 million (EUR 1.22 per share).

Excluding non-recurring benefits included in the results of the previous year, the net profit from continuing operations increased by 50% from EUR 17.5 million to EUR 26.2 million.

Total performance amounted to EUR 49.2 million. Net asset value per share increased by 13.3% from EUR 20.33 at the beginning of the financial year (adjusted for the share issue and dividends distributed) to EUR 23.03 on 28 February 2002. The closing share price that day was EUR 15.74, representing a discount to net asset value per share of 32%.

Ton de Boer, CEO of RA said, “We are very pleased with the results for the financial year 2001/2002. It showed that our diversified, high-quality portfolio has positioned us well to cope with the economic slowdown of Asian countries in 2001 which also had an impact on property markets across the region.”

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(source: Rodamco Asia)

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