Sirius Real Estate optimistic after utility prices protected and acquisition pipeline slowed down
Industrial park owner Sirius Real Estate has said it will be protected from the monster operating costs facing the industrial sector due to securing a large chunk of fixed price contracts for utilities.
In interim results, the property firm said it was trading in line with management expectations for the full year and undeterred by the wider market volatility.
The firm was also protected by securing its €170m Berlin Hyp AG facility one year in advance of its due date and slowing down an acquisition pipeline.
Such “early and strategic efforts” meant the business would “remain extremely-well positioned going forwards,” chief executive Andrew Coombs said.
The London-listed firm said its total sales had skyrocketed some 48 per cent to €130.6m (£113.36m), over the last six months.
It also booked profit before tax of of £65.7m while underlying profit grew 78 per cent to £ 41.58m (€47.9m).