AFI Properties, the parent company of AFI Europe, posted a profit of €27.5m for the first six months of 2014, up from €4.3m from the same period last year. AFI Properties also posted net income of €39.4m for H1, a 10-percent jump from 2013. The company’s net income for Q2 rose 12-percent y-o-y. The strong performance was boosted by the openings of new projects like AFI Palace Ploiesti and AFI Park 2, as well as the refinancing of Business Park Varna in Bulgaria. The AFI board decided to pay €16m in dividends, marking its first distribution since 2006.
AFI Palace Cotroceni posted net operating income of €14.6m for the first half of 2014, up 4 percent from the previous year. The commercial center’s net revenue for 2014 is expected to top €29m.
