Markets News

Unibail Rodamco's net rental income hit by pandemic

July 29 (Reuters) - Europe’s largest property firm Unibail-Rodamco-Westfield on Wednesday posted a 14.2% like-for-like decline in first-half net rental income after the company was forced to close most shopping centres because of the COVID-19 pandemic.

Unibail reported net rental income of 1.07 billion euros ($1.26 billion), down from 1.25 billion euros a year earlier.

The company, which counts leading European malls such as the Forum des Halles in Paris and Madrid’s La Vaguada among its assets, said the duration and impact of the pandemic on its results remains material and it is too early to provide new guidance for 2020. ($1 = 0.8494 euros) (Reporting by Anna Rzhevkina Editing by David Goodman )