The value of the company’s net tangible assets , as measured under European Real Estate Association reporting standards, fell almost 12 per cent year on year-on-year about €1.48 per share, which, according to Goodbody Stockbrokers analyst Colm Lauder, was lower than the market had expected.
The company, which has fought off calls this year from a Canadian activist investor Vision Capital to put itself up for sale as its stock trades at a discount to its intrinsic value, said it remained focused on “delivering on its value maximising portfolio management and disciplined capital allocation strategy”.
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