PARIS (dpa-AFX) - French real estate company Unibail-Rodamco SE (UNBLF.PK) reported that its recurring net result for the first-half of 2016 increased 8.9% to 575 million euros from 528 million euros in the prior year. Recurring earnings per share improved to 5.81 euros from 5.37 euros in the prior year.
Recurring earnings per share for the period was 5.81 euros, representing growth of 13.5% from the recurring earnings per share for first-half of2015 adjusted for the disposals in 2015. This increase was primarily due to the robust rental growth of the Shopping Centres and the strong decrease in the average cost of debt. In addition, the Group benefited from the positive impact of the recognition of tax losses carried forward.
The Group expects to generate recurring earnings per share for 2016 of around 11.20 euros, the top end of the range of 11.00 euros -11.20 euros for the full year provided in February 2016.
Copyright RTT News/dpa-AFX