Financial Commentary and AccountsOver the past five years the Group has actively managed its balance sheet. Loans at historically high interest rates have been repaid, increasing the positive cash flow of the Group. The investment property portfolio is set up such that it is always cash flow positive. This forms the foundation for intensive asset and financial management to build upon. The Group’s strength lies in its long-term strategic objective of continuously improving its high quality investment property portfolio by acquiring long-term income streams let to strong covenants and linked to modern property. Our key financial driver is the internal rate of return the Group can achieve for both shareholders and joint venture partners on their equity. The Group has applied the above principles to investment property portfolios in France, the Republic of Ireland and the UK, and has continuously achieved IRR’s in excess of market averages, resulting in a consistently enhanced net asset value for the Group. This growth in the Group’s net assets has given us greater access to highly competitively priced secured and unsecured finance from both lending institutions and joint venture partners.
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Simon Childs
Finance Director |
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