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Swiss Prime Site H1 EPS rises YOY

Swiss Prime Site AG said its EPS for the first six months was CHF4.69, an increase from CHF2.13 per share in the prior-year period.

Profit totaled CHF356.5 million, compared with CHF152.0 million in the prior-year period.

Rental income from properties came to CHF239.3 million, compared with CHF240.9 million in the year-earlier period.

Profit excluding revaluations and all deferred taxes totaled CHF151.3 million, or CHF1.99 per share, compared with CHF151.1 million, or CHF2.11 per share, in the prior-year period.

The Swiss property company added that it has initiated a sale process for its Tertianum Group unit as part of its efforts to focus on its core business and related business fields. The company expects to complete the transaction in the first half of 2020.

The company also disclosed that Franco Savastano will leave Swiss Prime's executive board.