HAMBURG (dpa-AFX) - Deutsche EuroShop (DUSCF.PK) reported a 24% improvement in first-quarter consolidated profit to 16.5 million euros from year-ago quarter's 13.4 million euros. Net operating income climbed 16% to 46.6 million euros, and EBIT went up 19% to 45.9 million euros. The company attributed these strong increases to the three major center expansions completed last year at the Altmarkt-Galerie in Dresden, the A10 Center and the Main-Taunus-Zentrum. Another key driver was the addition of the Allee-Center Magdeburg to the portfolio.
EPRA earnings per share, i.e. earnings adjusted for measurement gains/losses, rose to 0.34 euros from 0.27 euros, an increase of 26%. Quarterly funds from operations or FFO improved 25% to 0.45 euros from 0.36 euros a year earlier.
In the first three months, revenue was 51.9 million euros, up 17% from 44.4 million euros in the 2011 first quarter.
Copyright RTT News/dpa-AFX
© 2012 AFX News
