SFL reports strong increase in profit

Turnover up 24.1% - Pre-tax current cash flow up 7.0% - After-tax current cash flow up 26.3% - Net profit up 59.6%

Board of Directors of Société Foncière Lyonnaise met on 9 February 2004, in the presence of the Chairman, Yves Mansion, to approve the 2003 financial statements which reflect the benefits of switching to the new SIIC tax regime. At the Annual General Meeting, the Board intends to recommend a sharp rise in the dividend. The Board of Directors has been informed by several major shareholders that they are considering the future of their respective interests in the Company.

Business review

  • In 2003, SFL stepped up its programme of selective asset sales, taking advantage of an active property market and the opportunities provided by the new SIIC regime. A total of €380 million worth of assets were sold during the year

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