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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