CBo Territoria's turnover fell by 4,5% in the first half of 2022, at 33,3 million euros against 34,8 million a year earlier. This decline is due to the sharp drop in turnover from tertiary development (of 7,7 to 2,6 million euros), after two years of strong activity. “For the entire financial year, the promotion activity will be down compared to 2021 in favor of the development activity of tertiary real estate”, announces the group. The turnover of residential development, however, increased by 19,5 %, driven by the sale of 55 building plots in the west of the island. Over the period, gross rental income from CBo Territoria’s tertiary economic assets increases by 8,4% to 11,8 million euros. The occupancy rate of this heritage reaches 98%, compared to 96% at the end of June 2021. The company posts a group net profit of 8,4 million euros, up 15,6 %. Medium term, CBo Territoria intends to continue the development of its heritage, with a prospect of 106 million euros of investments in tertiary projects, including 28 million euros under construction in Combani, in Mayotte, where the Ylang-Ylang shopping center is already marketed for 86% of potential rents. And promotion, CBo has an order book of 35 at 24 months,4 million euros and a residential sale offer of 29 million.
CBO TERRITORIES : profit up 15% in the first half
