Arcona Property Fund N.V. reported €2.29m in rental income in the first six months of 2017, up 47 percent from the previous year. The company’s operational profit jumped to €852,000 from €230,000 in H1 2016. Operational profit in Q2 increased 184 percent to €630,000 from €222,000 in Q1. Net rental revenue rose 21 percent q-o-q from €1.034 million to €1.251 million. The increase is a result of the acquisition and integration of a Polish retail portfolio at the beginning of the year. The portfolio’s occupancy rate increased from 80.7 percent to 83 percent. Arcona’s LTV ratio also increased to 52.4 percent from 49.3 percent at the end of 2016. The internal value per share rose by 7.1 percent to €12.52, and the share price reached €6.60, up by 22.2 percent.
