Deutsche Euroshop H1 Profit Rises; Reaffirms FY Guidance

(RTTNews) - Shopping center investor Deutsche Euroshop AG (DUSCF.PK) on Thursday said its funds from operations, or FFO, for the first half of fiscal 2015 improved 4.6% to 1.14 euros per share from 1.09 euros per share last year.

First-half earnings before interest and tax, or EBIT, remained virtually unchanged at 88.2 million euros.

Earnings before taxes and measurement gains/losses increased 5% to 63.6 million euros from 60.6 million euros in the prior year.

Consolidated profit for the first half improved 7.2% to 49.7 million euros from 46.3 million euros a year ago. Earnings per share were 0.92 euros, higher than the prior year's 0.86 euros.

First-half EPRA earnings per share, the result adjusted for valuation effects, rose to 0.95 euros from 0.91 euros.

Revenues for the first half were 100.6 million euros, a marginal increase of 0.9% from last year.

For the full year 2015, Deutsche EuroShop continues to expect FFO per share of 2.24 euros to 2.28 euros, earnings before taxes (EBT) excluding measurement gains/losses of 126 million euros to 129 million euros, EBIT of 177 million euros to 180 million euros, and revenues of 201 million euros to 204 million euros.

The company aims to pay a dividend of at least 1.35 euros per share for the current year.