HAMBURG (dpa-AFX) - Deutsche EuroShop (DUSCF.PK) reported that its funds from operations or FFO increased by 2.9% to 110.7 million euros in the first nine months of the current financial year.
Net operating income climbed 3.9% to 150.0 million euros, and EBIT 4.4% to 146.5 million euros. EPRA earnings, i.e. operating earnings adjusted for valuation effects, rose by 4.8 million euros to 107.8 million euros, an increase of 4.7%.
The consolidated profit in the first nine months of 2018 was down 3.6% compared with the same period in the previous year, at 82.2 million euros.
Revenue increased by 3.8% to 167.0 million euros, which was largely attributable to the acquisition of the Olympia Center in the Czech city of Brno. The revenue from the remaining asset portfolio also made a small contribution towards growth in the first nine months of the current financial year, at 0.3%.
Deutsche EuroShop reaffirms its forecast for financial year 2018 and continues to expect revenue of between 220 million euros and 224 million euros; earnings before interest and taxes (EBIT) of between 193 million euros and 197 million euros; earnings before taxes (EBT) excluding measurement gains/losses of between 154 million euros and 157 million euros; funds from operations (FFO) per share of between 2.35 euros and 2.39 euros.
The company plans to increase dividends for 2018 by five cents, paying out 1.50 euros per share.
Copyright RTT News/dpa-AFX