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Property firm Green REIT reports profit of €43.1m

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Stephen Vernon of Green REIT Plc (centre) pictured at the company’s launch held in the Irish Stock Exchange, Dublin. Photo: Robbie Reynolds.

Stephen Vernon of Green REIT Plc (centre) pictured at the company’s launch held in the Irish Stock Exchange, Dublin. Photo: Robbie Reynolds.

Stephen Vernon of Green REIT Plc (centre) pictured at the company’s launch held in the Irish Stock Exchange, Dublin. Photo: Robbie Reynolds.

PROPERTY firm Green REIT has reported a profit of €43.1m for the year ended June.

The company, which owns a number of high profile commercial properties in Dublin, added that its total investment was €748m by end June.

Green REIT recorded an investment income yield of 7pc while discussions with lenders on additional debt financing are "well progressed."

The company said it raised €710m from its initial public offering in July 2013 and secondary offering in May 2014.

It added that it has further headroom to invest €322m into new opportunities.

The firm had NAV of €727.8m, with a NAV per share of 109.1 cents.

The company had a loan to value of 9.2pc on total assets.

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