Vallehermoso net profit EUR 189.7 mln during first nine months

Net profit up by 63% on year

Spanish real-estate company Vallehermoso SA net profit rose 63% on the year to EUR 189.7 mln. Pretax profit was EUR 289.6 mln, up 16% compared to the same period in 2001.

Real-estate sales rose 17% and rental income was up 15% on the year. Income from the companyÂ's service unit was EUR 3.3 mln for the first nine months of this year. Sales were EUR 779.1 mln, up 21% from the year-earlier period. Cash flow rose 19% to EUR 182.6 mln.

In the first nine months of this year, Vallehermoso invested EUR 608.4 mln, of which EUR 181.2 mln went toward the purchasing of terrain, and EUR 263.7 mln toward the construction of properties. A further EUR 235.5 mln was invested in non-real estate operations.

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(source: Vallehermoso)

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