Gecina Reports Profit as Paris Properties Gain Value
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Gecina SA, France’s second-largest publicly traded property company, reported a first-half profit after its apartment blocks and offices in Paris gained value.
Net income was 200.9 million euros ($261 million), or 3.27 euros a share, compared with a loss of 510 million euros, or 8.33 euros, a year earlier, the Paris-based company said today in a statement. Net asset value fell 2.1 percent to 98.6 euros a share after the company sold properties.