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Lar España Overcomes the Effect of the Pandemic on its Shopping Centres & Quintuples its Profits

The Socimi closed the period from January to September 2022 on the up thanks to an improvement in revenues and a higher valuation of its assets, which were reviewed in June.

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Lar España, the Socimi specialising in retail that is listed on the main stock market, has said goodbye to the worst effects of the pandemic on the shopping centre segment, which has been especially vulnerable in recent years. The company has just announced that it generated total revenues of 64.1 million euros between January and September 2022.

That figure represents a 6.1% increase (7.2% like for like) on the 60.4 million euros obtained during the same period last year. Moreover, that number together with the 4.1% rise in its latest asset valuation in June, drove up the company’s net profit to 68.4 million euros, 5 times more than the 14.3 million euros obtained a year earlier.

Read the full article in Spanish.

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