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 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.
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