Joint owner of Dundrum Town Centre owner Hammerson reported that its adjusted profit rose by 6% to £119.4m for the six months to June.
The British property investment firm’s Irish portfolio generated rental income of £17.4m during the period, with income from Dundrum significantly boosting this figure.
Additional income at Dundrum was raised through the settlement of rent reviews and new lettings, as well as through non-rental revenues from car park fees, which were increased last year.
A capital return of 2.5% in Ireland and 6% in premium outlets supported an overall portfolio return of 1.8%, with income growth contributing over 80% of capital return.
Hammerson’s Irish portfolio also includes the Dublin Central development site and land adjoining the Swords Pavillion shopping centre.
Last December it also acquired a 50% co-ownership with Irish Life of the Ilac Centre.
Hammerson Chief Executive David Atkins said the financial performance "is particularly pleasing in the context of a more uncertain political and economic backdrop and structural shifts in the retail sector.
"In an environment of continuing retail polarisation, brands are prioritising our well invested, prime locations to support a multichannel platform.
"This demonstrates the relevance of our portfolio and the success of our strategy focused on prime retail destinations in growing consumer markets, ensuring that we remain one of the winners of retail evolution."
