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The Socimi Saint Croix’s Profits Fall By Half Weighed Down By Its Hotels

The Socimi owned by the Colomer family has closed the first nine months of the year with a net result of 4.9 million euros, down by 49.1%, due to the suspension of activity and the impact of Covid.

Gran vía 34 propiedad de Saint

Saint Croix, the Socimi owned by the Colomer family, which also owns Pryconsa, has registered a profit of 4.9 million euros during the first nine months of 2020. That figure represents a drop of 49.1% compared to the same period a year earlier, when the Socimi earned 9.5 million euros, according to information submitted to the National Securities Market Commission (CNMV).

The company points out that this decrease is due to the fact that in 2019 it obtained an extraordinary profit of 1.4 million euros from the sale of assets as part of its strategy and that, at the end of the third quarter of 2020, the operating margin (NOI) resulting from the firm’s leasing activity and financial investments had been affected by Covid.

Read the full article in Spanish.

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