Outlook Corio; direct result 2008 to be in line with 2007

In the press release of the annual figures 2007 dated 28th of February Corio could not give an outlook for the total direct result 2008 due to the uncertainty surrounding the sale of the office and industrial portfolio. Following the sale of the Dutch office and industrial portfolio, the outlook for the direct result in 2008 is expected to be in line with the direct result in 2007 of €203.1 million.

The net rental income is expected to increase by approx. 14% in 2008 while financing expenses are expected to increase by some €27 million. It is assumed that the sale of the office and industrial portfolio in France (reported value 2007 year end €292 million) will be deferred to beyond the fourth quarter of 2008. In view of the uncertainty in the general economic environment the outlook could change as a result of unforeseen developments and changes in the portfolio.

source: Corio