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Arricano reports solid performance for 2020
StockMarketWire.com
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Arricano, a developer and operator of shopping malls in Ukraine, said despite Covid-19 restrictions its shopping malls continued to perform well during 2020, largely retaining their tenant base.
As a consequence, total tenant turnover was only 10% below 2019 in local currency.
Lockdown measures resulted in the partial closure of the Arricano shopping malls for between 52-81 days, depending on region.
Despite the temporary closure of retail stores and reduced access, the occupancy rate across the Arricano portfolio remained at 99%, the same level it has been since 2018.
Similarly, the number of visitors to the malls in 2020, including the periods of government restrictions, amounted to 33.1 million visitors, which is only 19% less than in 2019. When the shopping malls were operating normally, visitor numbers only decreased by 5% compared to the same period in 2019.
During 2020, Arricano Group signed 89 new lease agreements covering a total area of 8884 square metres, representing 6% of the operating estate. New tenants include New Yorker, Flo and Decathlon.
Arricano anticipates releasing its final audited results for the year ended 31 December 2020 in late April.
At 2:47pm: (LON:ARO) Arricano Real Estate Plc share price was 0p at 0.3p
Story provided by StockMarketWire.com
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