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Profit rise of 92% reported by real estate business

17 November 2021

An increase of 92% in profit has been recorded by real estate business CTP NV for the first nine months of this year, compared to the same period in 2020.

Having posted euro 165.8m profit last year, the company saw this figure rise to euro 317.8m for the period from January to September 2021.

These figures provide further support that the real estate and FM sectors are continuing their recovery from the impact of the Coronavirus pandemic.

CTP NV reports that its "robust financial results" were driven by solid leasing take up, rental growth and record development valuations from accelerating yield compression.

The results have led to adjusted EPRA earnings per share increases of euro 0.38 in 2021, compared to euro 0.29 for the same period last year.

The company further reported it has "invested significantly" in its staff, including "senior management in country teams and across group functions".

further examples of positive trading have been shared by both real estate and FM businesses, with several sectors reporting double-digit growth as the impact of the pandemic is seen to be reducing in many areas.

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