Property firm Hibernia returns to growth as Dublin market recovers – Independent.ie

Property firm Hibernia real estate investment trust (REIT) has seen a return to growth and a boost in portfolio value as activity in Dublin picks up post-lockdown.

nnouncing its results for the six months to September today, the firm said portfolio value has grown €23m or 0.4pc to €1.45bn since March.

Profit after tax was €21.2m, a return to growth after a loss of over €34m in the same period in 2020.

Net tangible assets per share, a better measure of value, were at 172.5 cents as of September 2021.

Net rental income was €31.4m, 2.1pc down on the same period in 2020 as rent collection rose to 99pc.

Net debt came in at €291.6m, 4.6pc up on its position in March this year.

Hibernia said it will be paying out an interim dividend of €0.2 per share.

Since March, Hibernia has completed the 2 Cumberland Place and 50 City

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