Klépierre SA (LI.PA)

French mall owner Klepierre's nine-month rental income rises by almost a third

Klepierre, which leases commercial space to retailers such as Zara-owner Inditex, H&M and Sephora across Europe, reported a 6% rise in like-for-like third-quarter retailer sales compared to the same period last year. Net rental income came in at 734.6 million euros ($718.6 million) for the first nine months of the year, which it attributes to "good business resumption" thanks to normalised invoicing, higher collection rates and a rebound in other variable streams of income. Total revenues for the period came in at 1.1 billion euros, a 17% rise compared to the first nine months of 2021.