Argan: 6% increase in 2022 net recurring income

(CercleFinance.com) - Argan has reported a 6% increase in recurring net income (group share) for 2022, which reached 118.
9 million euros (5.2 euros per share), representing 72% of rental income, which also rose by 6% to 166 million euros.

With a continuation EPRA NAV of 92.9 euros per share at 31 December (+1% year-on-year), the logistics property company will propose a 15% increase in its dividend to three euros per share for 2022, a level it hopes to at least maintain for 2023.

Argan expects strong growth in rental income in 2023, increasing 10% to 182 million euros, although it should be moderate thereafter, with it forecasting growth of just 2% p.a.


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