Listed commercial property developer Hibernia Reit has reported a loss for its financial year end March 31 due to negative property revaluations, according to annual results from the group. The company recorded a loss of €25.2m for the year, a swing on the profit of €61m in the prior year. Hibernia had a revaluation loss on its investment property portfolio of €67.6m. Hibernia’s EPRA earnings – a measure of a real estate company’s performance excluding property revaluations – came in at €42.2m, up 10.8pc year-on-year. Hibernia reported EPRA net tangible assets per share (previously the net asset value per share) of €1.73, which was ahead of analysts expectations.

Source: Irish Independent May 26, 2021 06:37 UTC