Vesta reported a 26.1% drop in its 2018 profit

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MEXICO — The developer of industrial real estate and distribution centers, Vesta, reported on Thursday its financial results where it was observed a fall of 26.1% in 2018 profit, standing at US$93.06 million compared to US$126.03 a year before.

Likewise, it reported that its consolidated comprehensive income for the previous year totaled US$87.54, 31.3% less than what was achieved in 2017, as well as a pre-tax profit of US$128.04 or 18.7% less.

Vesta is a developer, operator and owner of industrial buildings and distribution centers in Mexico that, at the end of last year, had 184 properties located within industrial parks distributed in 14 states of the country. Its clients operate in industries such as automotive, beverages and food, logistics and medical devices, among others.

"Looking ahead, we still see growth opportunities, butwe will stay close to our customers, and we closely supervise economic andindustry conditions to ensure that we continue to invest in a disciplined andprofitable manner. In Mexico, concerns regarding the USA, global economies, tradeagreements results and the new political environment in our country, keeps uscautious by closely keep looking at the market, “said Lorenzo Berho, generaldirector of Vesta.

Source: T21