Norwegian Sektor Group can look back at 2014 as a year of great growth.
Acquisitions and new management assignments have contributed to increased sales volume of 10 percent in Sektor Group’s shopping centers in 2014.
Total sales were estimated to 22.3 billion NOK through the 36 shopping centers Sektor Group manages.
Adjusted for projects, the revenue growth is 2.6 percent.
”Many of the centers have done very well in 2014, and in Trondheim, both Solsidan and Tillertorget increased turnover by 3.5 percent and 21.3 percent, despite increased competition. Also in Asker have Trekanten and Holmen center experienced new competition but are still increasing their turnover by 3.5 percent and 6.7 percent,” Sektor Group reports.
Several projects are already underway with the development work. In Bergen, Oasen center was completed in mid-November after several years of construction work. The results did not wait – Oasen have turnover increase for 2014 of the entire 10.7 percent against last year.
At Buskerud Storsenter, Krokstad senter, Kilden in Stavanger and Storbyen in Sarpsborg, on the other hand, development work affected in the opposite direction as a result of downtime for a variety of shops. Sektor says they will now see positive effects as a result of the many projects. In Skien, Hercules center had its first full year with growth of 5.6 percent after development work at the center was completed in 2013.
The Sektor centers increased Christmas shopping turnover by five percent from 2013. Shops within home interior was the Christmas shopping winners with an increase of over 10 percent. These have also experienced solid growth throughout 2014 and grow by 6.2 per cent against the previous year.
Sektor Group took over management of Stovner center and Torvbyen in Fredrikstad, Halden Storsenter and Marketed in Haugesund in 2014. The management assignments for these four centers came as a result of acquisitions through Sektor Portfolio II AS.