Arricano Real Estate PLC Q2 2016 Trading Update (0509F)

TIDMARO

RNS Number : 0509F

Arricano Real Estate PLC

25 July 2016

25 July, 2016

Arricano Real Estate plc

("Arricano" or the "Company" or, together with its subsidiaries, the "Group")

Q2 2016 Trading Update

Arricano is pleased to announce the following trading update for Q2 2016, during which retail vacancy rates reduced across its portfolio of five shopping malls when compared to the same date in 2015:

 
 Shopping Mall         Vacancy as    Vacancy as        Vacancy as at 
                        at 30 June   at 30 December    30 June 2015 
                        2016         2015 
--------------------  ------------  ----------------  -------------- 
 Prospect Shopping 
 Mall, Kyiv               2.94%           7.00%           23.99% 
--------------------  ------------  ----------------  -------------- 
 RayOn Shopping 
  Mall, Kyiv              1.5%            3.53%            2.19% 
--------------------  ------------  ----------------  -------------- 
 Sun Gallery, 
  Kryvyi Rih              2.67%           2.32%            4.27% 
--------------------  ------------  ----------------  -------------- 
 City Mall, 
  Zaporizhzhia             0%              0%               0% 
--------------------  ------------  ----------------  -------------- 
 South Gallery, 
  Simferopol,             5.18%           4.91%            9.79% 
--------------------  ------------  ----------------  -------------- 
 
 
 

In Q2 2016, Arricano leased 4,248 sqm of retail space, of which 748.5 sqm were lease extensions. In total 40 new lease agreements were signed of which 28 brands were new to Arricano including LC WAIKIKI, New Balance, Brocard, US Kids and iDO.

Anna Chubotina, Director of Arricano's Retail Areas Department, commenting on tenant mix said: "It is important for us to have a dynamic pool of tenants that is developing, changing, and improving, so that a broad and current range of retail operators are represented, adding to the visitor appeal of the Malls and creating a vibrant atmosphere."

Mykhailo Merkulov, General Director of Arricano Real Estate Plc, said "Q2 has been a good period for the Company as demonstrated by the increase in the number and quality of the tenants seeking space in our portfolio of Malls. Going forward our plans include the development of shopping malls in line with the corporate strategy, improvement of the tenant mix, and further implementation of the projects focused on upgraded services business model."

For further information, please contact:

 
 Arricano Real Estate plc        Tel: [phone] 
  Mykhailo Merkulov               6708 
 Financial PR                     Tel: [phone] 
  Novella                          7008 
  Tim Robertson/Toby Andrews 
 Nominated Adviser and Joint      Tel: [phone] 
  Broker:                          4000 
  Smith & Williamson Corporate 
  Finance Limited 
  Azhic Basirov / David Jones 
 Joint Broker:                    Tel: [phone] 
  Whitman Howard Limited           4555 
  Ranald McGregor-Smith 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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July 25, 2016 02:00 ET (06:00 GMT)