News

27.04.2017

Multiplan's mall sales grow 6.1% in the first quarter of 2017

Multiplan announced the results of the first quarter of 2017. Total store sales grew 6.1% and the increase in same store sales (SSS) doubled over the same period of the previous year, to 3.2%. The improved tenant mix led same area sales (SAS) to grow 5.6%, once again surpassing the SSS. The average occupancy rate rose to 97.4% in the fourth quarter of 2016, up from 97.3%. This result shows a solid start to the year. Sales of retailers demonstrated strong growth in the first quarter, particularly in March, and other operating indicators were stable despite the still uncertain macroeconomic scenario, although it is improving. After acquisitions of minority shareholdings and a private capital increase, the company's balance sheet continues to support its growth strategy. Rental revenue grew 10.2% and shopping center expenses were lower by 3.6% in the first quarter of this year, leading the net operating income (NOI) — an important indicator of efficiency of companies in the...