PARIS--( BUSINESS WIRE )--Regulatory News:
The financial statements for the year ended 31 December 2009 were
approved by the Board of Directors of Société Foncière Lyonnaise
(Paris:FLY) on 12 February 2010, at its meeting chaired by Yves Mansion.
2009 saw a further improvement in operating indicators thanks to firm
rental revenues and reductions in both operating expenses and finance
costs. Although stable in the second half of 2009, appraisal values were
down 7.8% like-for-like for the full year, reflecting sharp declines in
the first half. The financial statements have been audited and the
auditor’s report is being prepared.
Results
- Property rentals for the year amounted to €183.0 million compared with
€181.5 million in 2008, representing an increase of €1.5 million. On a
comparable portfolio basis, property rentals were up €5.0 million or
2.9%, mainly due to the positive effect in 2009 of applying rent
indexation clauses. The impact on rents of the decline in the latest
indices will not be felt until 2010. Sales of properties out of the
portfolio had the effect of reducing property rentals for the year by
€3.7 million.