Nama reports €102m profit for first half of year
Nama made a profit of €102m for the first six months of this year, and has guided that it will complete its work by the end of 2017 or mid-2018, according to its annual statement, published yesterday. This was almost double the €55 million surplus achieved in the same period of 2013. The report shows that Nama’s cash generation accelerated in the six-month period, generating cash of €5.4 billion during the first half of this year compared with €2 billion in the same period of 2013.
NAMA is also focusing on the completion of a number of residential properties in London in 2015 and 2016, while it is also planning and facilitating the delivery of office accommodation in Dublin with a special focus on the city’s Docklands Strategic Development Zone. The agency has committed to ensuring that a pipeline of large portfolios of mainly Irish property assets will be put up for sale, adding that packaged deals for properties with a minimum value of 250m will be offered for sale every four months.
