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Atrium reduces its losses

Atrium European Real Estate reported today that it had reduced its losses by 50 per cent year on year to 449 million Euros in 2009.

It added that its loss per share last year had been 1.83 Euros, down from 3.95 Euros in 2008.

The firm added that its net rental revenue had increased by 27.3 per cent year on year to 121.3 million Euros last year. It said 94 per cent of its properties had been rented in 2009.

Firm CEO Rachel Lavine said Atrium had a strong cash position and would continue to grow, in part by seeking to increase the rental ratio and rents. Stronger firm was the firm�s priority in 2010, he said.

The firm had announced a special dividend of 0.50 Euro a share last December.

The firm, based on Jersey but listed on the Vienna stock exchange, used to be called Meinl European Land (MEL).

Austrian Times

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