Sharp increase in profits

“In 2016, all the financial and operational indicators for FREY continue to show a strong upward trend and a double-digit growth rate: + 18% for going concern NAV to €27.80 per share, and +60% for net income attributable to owners of the company to €32.7 million. This performance is all the more remarkable as it was achieved in a difficult global context in terms of consumer spending. It thus confirms the resilience of our property development business model and validates our growth strategy, 100% based on open-air shopping centres, an asset class that closely corresponds to brand and consumer expectations. Lastly, with a pipeline portfolio of €845m for the next five years, the Group is confident in its ability to deliver dynamic, sustainable growth,” said Antoine Frey, Chairman and Chief Executive Officer of FREY.