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Arricano Real Estate Plc
31% growth in Arricano's shopping mall tenant revenues for six months ended
30 June 2017
09-Oct-2017 / 16:19 GMT/BST
9 October 2017
*Arricano Real Estate plc*
("Arricano" or the "Company" or, together with its subsidiaries, the
"Group")
*Tenants's revenues in Arricano shopping malls
grows by 31% for the first 6 months of 2017*
For the six months ended 30th June 2017, Arricano shopping malls network
tenants' revenues increased by 31% compared to the same period in 2016. In
addition, footfall across Arricano's shopping malls increased by 14.6% to 22
million visitors (H1 2016: 19.2 million visitors).
A key factor behind the significant increase in their tenants' revenues, in
the opinion of the Arricano management team, is the Company's partnership
approach to the tenant / landlord relationship. This approach includes
positioning the shopping mall as a new social space in an innovative way,
implementing marketing initiatives with tenant partners, improving customer
service and customer experience, and promoting the professionalism of the
shops' front-staff within B2B Upgrade through Arricano's social and
educational project.
Mykhailo Merkulov, CEO of Arricano Real Estate PLC, attributed some of the
increase in tenants' revenues in 2017 to Arricano's systematic activities
over the last two years, he commented, "Between 2015-2017, we have
consistently introduced a service business model which has produced the
results intended and seen significant changes in both quantitative and
qualitative indicators."
The Company's service business model is aimed at the development of a
Retailer-Shopping Mall-Consumer ecosystem. Arricano's management team
constantly strives to improve the tenant mix to ensure it is relevant to and
attracts the shopping malls' target audiences. Alongside this, each tenant's
operations is analysed in order to identify areas for development,
including: studying the guests' expectations and needs; implementing
marketing activities both in shopping malls in general, as well as
specifically for individual tenants; and creating comfortable social spaces
in each shopping mall.
Mykhailo Merkulov said, "I believe in working collaboratively with tenants
to increase their business indicators, primarily, their revenues has led to
the creation of a business model in which everyone benefits. The consumer
receives products, best offers, and best service. Tenants receive revenue
growth and improvement of business indicators and the shopping mall
experiences high-quality traffic as well as satisfied retailers and
consumers. We can see that the Retailer-Shopping Mall-Consumer ecosystem
works truly effectively when all residents participate in its improvement".
For the first 6 months of 2017, the retail trade revenues in Ukraine were
7.3% higher than the figures for the same period of 2016 (Data from the
State Statistics Service http://www.ukrstat.gov.ua [1]).
*For further information please contact:*
+-------------------------------------+------------------------+
|*Arricano Real Estate plc* |Tel: +380 44 569 6708 |
|Mykhailo Merkulov, CEO | |
+-------------------------------------+------------------------+
| | |
+-------------------------------------+------------------------+
|*Nominated Adviser and Broker* |Tel: +44 (0)20 7131 4000|
|Smith & Williamson Corporate Finance | |
|Limited | |
|Azhic Basirov | |
+-------------------------------------+------------------------+
| | |
+-------------------------------------+------------------------+
|*Financial PR* |Tel: +44 (0)20 3151 7008|
|Novella Communications | |
|Tim Robertson/Toby Andrews | |
+-------------------------------------+------------------------+
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The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service
617033 09-Oct-2017
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(END) Dow Jones Newswires
October 09, 2017 11:19 ET (15:19 GMT)
