Investors expressed delight this morning, with EPP’s share price jumping 8 per cent, after Poland’s largest retail landlord released its interim results. While EPP’s earnings were impacted by COVID-19 and lockdowns, the company reported a secure liquidity position. EPP CEO, Tomazs Trzósło joins CNBC Africa for more.
Poland’s largest owner of retail real estate reported a distributable earnings increase of 9 per cent and headline earnings per share drop of 36 per cent to 6.92 cents per share. The group has also not provided guidance for the year ahead following the impact of the Coronavirus in Poland which has seen the closure of schools, cinemas and other public spaces. Joining CNBC Africa for more is Hadley Dean, CEO of Echo Polska Properties (EPP).
Dutch based real estate company, EPP saw a 9 per cent increase in its distributable earnings for the interim period. The company’s net operating profit also increased to 64. 245 euros from the previous period 59.249 euros. By the end of 2020 the company expects to gain ownership of 28 shopping centres as it awaits to conclude one of its transactions. EPP CEO, Hadley Dean joins CNBC Africa for more.