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(Reuters) -British warehousing agency Segro stated on Friday the rising reputation of speedy supply providers is fuelling sturdy demand throughout its markets after it reported a 20% soar in annual revenue, sending its shares about 4% larger.
The growth in e-commerce through the pandemic can also be serving to warehouse operators like Segro stay comparatively resilient within the face of rising inflationary pressures.
“We’re seeing new names emerge within the area — speedy grocery supply providers and different ‘q-commerce’ companies — and its impression is now being felt extra extensively throughout the portfolio, for instance in our city estates in Germany, France and Spain,” Segro stated, utilizing a time period for “quick-commerce”.
In an indication of rising curiosity within the speedy supply enterprise, U.S. personal fairness large Blackstone (NYSE:) stated this week it was main a virtually $24 billion recapitalisation of Mileway, Europe’s largest operator of city warehouses.
Segro stated on Friday adjusted pre-tax revenue jumped to 356 million kilos ($484.9 million) in 2021, from 296 million kilos a yr earlier, whereas a measure that displays the worth of its buildings, known as EPRA Web Tangible Property, surged 40% to 1,137 pence per share.
($1 = 0.7342 kilos)
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