Despite the UK’s relatively sluggish economy, Intu Properties delivered a good set of results, with NRI increasing from £447m in FY16 to £460m in FY17 (+0.5 lfl). The year was all about seizing opportunities in Spain, e.g. acquiring Madrid Xanadú and signing 38 leases with a 25% reversionary potential. We will remain cautious in updating our model, taking into account the UK’s challenging retail environment.
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Good performance in Spain offsets UK’s slower growth
- Published:
07 Mar 2018 -
Author:
Zeineb SAHNOUN -
Pages:
3
Despite the UK’s relatively sluggish economy, Intu Properties delivered a good set of results, with NRI increasing from £447m in FY16 to £460m in FY17 (+0.5 lfl). The year was all about seizing opportunities in Spain, e.g. acquiring Madrid Xanadú and signing 38 leases with a 25% reversionary potential. We will remain cautious in updating our model, taking into account the UK’s challenging retail environment.