Green Reit’s profits surge by 264%

Irish property investment firm Green Reit yesterday reported a 264% increase in profit and signalled its intent to pull back from further acquisitions in the coming year.

The company, which counts a number of landmark developments, mainly in Dublin, as part of its portfolio, saw profits for the year to the end of June climb to €156.7m from €43.1m in its first year of operation.

In a strong set of results, the company also revealed a 24.4% total return on investment in the 12-month period and net asset value (NAV) up 23.6%.