The industrial developer VGP’s net profits in 2011 hit €12.9m, double its result of €6.2m in 2010. The sale of an 80 percent equity interest in VGP CZ I and VGP CZ II, with a total transaction value of around €435m, allowed the group to optimize its capital structure and to pay out €40 in cash to its shareholders. While the company’s primary activities are in the Czech Republic, two further sales at the end of last year, of VGP Estonia and VGP CZ IV, were signed with a transaction value of over €30m. Sustained demand for warehouse space has resulted in lease contracts last ear worth €4.6m, of which €3.5m represented new leases.
