Brief: Arcona Property Fund Says Too Early To Give A Concrete FY Forecast

Arcona Property Fund NV

31/08/2020 07:20

Aug 31 (Reuters) - ARCONA PROPERTY FUND NV  ARCPF.AS :
    * ARCONA PROPERTY FUND N.V. EXPECTS RECOVERY IN SECOND HALF
OF
2020
    * NET ASSET VALUE PER SHARE BASED ON NNNAV WAS EUR 12.74 PER
SHARE
AS OF JUNE 30, 2020 (2019: EUR 13.14)
    * RECOVERY WAS ALREADY VISIBLE IN JUNE / JULY
    * EXPECTS THE OCCUPANCY RATE TO RECOVER IN THE SECOND HALF
OF 2020
AS THE STUDENT ACCOMMODATION IN KOŠICE, SLOVAKIA, IS RE-OCCUPIED
    * OCCUPANCY RATE WAS 82.4% AT END OF Q2 (END 2019: 86.9%)
    * EXPECTS TO COMPLETE THE PURCHASE OF FIVE ASSETS FROM SPDI
IN THE
SECOND HALF OF 2020
    * MANAGEMENT CONSIDERS IT TOO EARLY TO GIVE A CONCRETE
FORECAST
FOR FULL YEAR
    * H1, NET RENTAL INCOME (€ 2.17 MILLION) DECREASED BY 9.8%
COMPARED TO THE SAME PERIOD LAST YEAR (€ 2.41 MILLION)
    * PLANNED SALE OF UP TO FIVE OF FUND'S BUILDINGS IN KOŠICE
IS
PROGRESSING

Source text for Eikon:  ID:nNDL66Tt72 
Further company coverage:  ARCPF.AS 

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