Grupo Colonial's turnover came to EUR 192 mln in 1Q 2007, the Spanish real estate company said in the first report after it completed the merger with peer Inmocaral last April. Profits after tax came to EUR 206 mln. In like-for-like terms, rental income experienced a significant increase of 4.6%, to reach EUR 73 mln. Rental income generated by French assets through the company's unit SFL came to EUR 41 mln, with a remaining EUR 32 mln generated by Spanish assets. The average occupancy rate is 97.2%. The rental business has been valued at EUR 6.778 bn, which is 7.7% higher than the valuation in year-end 2006. 85% is concentrated in the office business mainly in Paris, Madrid and Barcelona.
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