The cost of debt from €16.8 million to €26.7 million as a result of higher interest rates. Underlying earning of the properties owned by Ireland’s largest landlord Ires Reit fell in 2023 as the firm starts a strategic review which could see the sale of its assets, a merger with another firm, or a halt to its REIT status. EPRA earnings, or the income generated by the properties, dropped from €30.9 million to €27.6 million as debt costs hit profits. Financing costs rose from €16.8 million to €26.
7 million as a result..
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Companies Ires Reit EGM: Margaret Sweeney to survive as shareholders back re-election of boardPreliminary results from the Ires Reit EGM indicate that the entire board, including Margaret Sweeney, the chief executive, will be re-elected. Shareholders in Ires Reit, Ireland’s largest private landlord, look to have voted down all of the proposals tabled by activist investor Vision Capital following a crucial emergency general meeting held in Dublin on Friday morning.
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Companies Shares in Ires Reit Tumble as Goodbody Warns of Further FallsShares in Ires Reit dropped on Friday after shareholders voted down proposals tabled by activist investor Vision Capital and analysts at Goodbody anticipated the downward momentum will continue.
Source: businessposthq - 🏆 8. / 71 Read more »