IRSA Propiedades Comerciales S.A. announces its Results for the first quarter of the Fiscal Year 2019 Ended September 30, 2018
IRSA Propiedades Comerciales S.A. - American Depository Shares (IRCP)
US:NASDAQ Investor Relations:
irsacp.com.ar
Company Research
Source: PR Newswire
BUENOS AIRES, Argentina, Nov. 7, 2018 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. (NASDAQ: IRCP; ByMA: IRCP), the leading commercial real estate company in Argentina, announces its results for the first quarter of the FY 2019 ended September 30, 2018.HIGHLIGHTSNet gain for the first quarter of FY 2019 reached ARS 7,795 million compared to a gain of ARS 1,935 million in IQ18. This was mainly explained by higher results from changes in the fair value of investment properties that compensated the net financial losses generated by the currency devaluation in Argentina during the quarter. The Company's Adjusted EBITDA for IQ19 reached ARS 845 million increasing by 11.7% compared to IQ18. Adjusted EBITDA for Shopping Malls and Offices segments reached ARS 715 million and ARS 157 million, increasing by 10.3% and 67.6% respectively. Our shopping centers' sales grew by 24.1% in the first quarter of FY 2019 and the portfolio's occupancy rate reached 98.7%. On October 29, our Shareholders'
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