Profits up at Hibernia Reit investor firm

A highly active year drove strong earnings growth and profitability for property investment company Hibernia Reit.

Over the 12 months to the end of March, Hibernia invested €445m in expanding its portfolio of properties in Dublin city centre.

A further €43m has been committed for further expansion while the value of the portfolio rose almost 20% in the same period. It recorded profits of €3.9m.