Renta Corp looks abroad after domestic market drop
Spanish property company Renta Corporación said Tuesday it was looking to international markets for expansion.16 January 2008
MADRID - Spanish property company Renta Corporación said Tuesday it was looking to international markets for expansion after a slowdown in the Spanish market.
In a presentation of its business plan for the period 2008-2010 filed with the National Securities Commission, Barcelona-based Renta Corp said it expects 75 percent of its investments and sales by the end of that period will be from overseas sources.
Last week, Renta Corp estimated its net profit for 2007 at EUR 33-35 million, almost half of a previous forecast of EUR 62 million. Renta Corp's share price closed up 1.73 percent.
[Copyright EL PAÍS 2008]
Subject: Spanish news