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Lar Records Losses of €28.7 Million in H1 After Recognising Provisions of €46 Million for Property Impairments

The shopping centre Socimi registered losses of 28.7 million euros in H1 2020 despite generating a recurring profit of 28 million euros after decreasing the value of its portfolio by 46 million euros.

Centro comercial Lagoh Sevilla Lar España Socimi 1024x576 1

The Socimi Lar España, owner of a dozen commercial complexes, has closed the first half of 2020 with significant revisions to the evolution of its business.

The company, which debuted on the stock market in March 2013 backed by international investors such as Pimco, has registered losses of 28.7 million euros in the six months to June, compared to a profit of 28.6 million euros in 2019.

Read the full article in Spanish.

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