Shopping centre owner Intu has swung to an annual loss after suffering a collapse in the value of its properties in what it described as a “challenging” year. Shopping centre owner Intu has swung to an annual loss after suffering a collapse in the value of its properties in what it described as a “challenging” year. Intu made a £1.17 billion loss in 2018 compared with £227.2 million pre-tax profit the previous year. This came as the company saw £1.4 billion wiped off the value of its property portfolio to £9.2 billion. Revenue declined to £581.1 million from £616 million, while rental income fell to £398.5 million from £423.4 million.

Source: Irish Independent February 20, 2019 10:18 UTC