Published:
CCP Reports Gross Revenue of R$ 24.4 Million in 1Q08
SAO PAULO, Brazil, May 15 /PRNewswire/ -- Cyrela Commercial Properties
S.A. Empreendimentos e Participacoes (Bovespa: CCPR3), one of the leading
commercial property investment and leasing companies inBrazil, announces its
results for the first quarter of 2008.
1Q08 Highlights
Net Revenue R$ 23.61 million
Gross Profit R$ 21.44 million
Gross Margin 90.8%
EBITDA R$ 18.95 million
EBITDA Margin 80.3%
NOI R$ 23.10 million
NOI Margin 97.6%
FFO R$ 9.08 million
FFO Margin 38.5%
Net Income R$ 7.46 million
Net Margin 31.6%
1Q08 Results Conference Call
Friday, May 16, 2008
English Conference Call Portuguese Conference Call
11:00 a.m. (US EST) 09:00 a.m. (US EST)
Phone: +1 (973) 935-8893 Phone: +55 (11) 4003-9004
Code: 45532334 Code: CCP
About Cyrela Commercial Properties:
CCP is one of the main commercial real estate investment and leasing
companies inBrazil, with a focus on the development and acquisition for lease
of high-end corporate buildings, shopping centers, warehouses and distribution
centers. The Company also pursues opportunities to purchase, sell and resell
commercial properties that, based on its experience and knowledge of the
commercial real estate market, offer the potential for returns. The Company
possesses a current leasable area of 179,000 sq.m, plus a further 198,000 sq.m
under development, to be delivered in the coming years. In June 2007, the
consultancy CB Richard Ellis evaluated the Company's portfolio at R$ 1.27
billion. CCP is listed on the Novo Mercado segment of the Bovespa.
SOURCE Cyrela Commercial Properties S.A. Empreendimentos e Participacoes
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