Simon reports strong first quarter

Retail real estate giant Simon Property Group reported a strong first quarter with an increase in diluted earnings per share, according to first quarter reports.

Diluted earnings per common share increased to 47 cents, up 81 percent from the 26 cents reported for the same time period in 2005. The sale of partnership interests in one of the company’s European joint ventures to Ivanhoe Cambridge Inc. is in part responsible for this increase according to the report, according to the company.

Based in Delaware, Simon Property Group owns, develops and manages retail real estate properties including malls in New Hampshire. – TRACIE STONE

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