BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Deutsche Wohnen AG (DWHHF.PK) said its first-half profit declined 8% year-on-year mainly due to the lower increase in the value of the portfolio compared with the previous year. As at 30 June 2019, like-for-like rental growth was 3.3%. The company confirmed FFO I forecast for the fiscal year.
For the first-half, consolidated profit was 603.1 million euros compared to 652.7 million euros, prior year. Earnings per share was 1.36 euros compared to 1.74 euros. FFO I was 283.4 million euros compared to 249.8 million euros. FFO I per share increased by almost 13% to 0.79 euros from 0.70 euros.
First-half contracted rental income increased 6.1 percent to 411.1 million euros. Earnings from Residential Property Management was 365.1 million euros compared to 331.3 million euros.
Deutsche Wohnen confirmed its FFO I forecast of 535 million euros for the financial year 2019.
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