HAMBURG (dpa-AFX) - Deutsche EuroShop AG (DUSCF.PK), a German company that invests in shopping centers, on Wednesday reported higher Funds From Operations or FFO and revenues for the first nine months of the year, on more footfall that resulted in increased retail sales and trading volumes.
Further, the company also confirmed its FFO guidance for fiscal 2023.
Funds From Operations increased 34.5 percent to 129.7 million euros or 1.74 euro per share from 96.4 million euros or 1.56 euro per share for the same period last year.
Consolidated profit, however, fell 5.5 percent to 68.2 million euros or 0.91 euro per share from 64.6 million euros or 1.05 euros per share of the previous year.
Revenue grew 28.1 percent to 203.2 million euros from 158.7 million euros of the previous year.
The company said that people visiting its shopping centers increased by 7.4 percent leading its tenants to record a 11 percent rise in retail sales.
Looking forward to the full year, the company reaffirmed its FFO guidance that it raised in August and continues to expect FFO between 2.08 euro per share and 2.18 euro per share.
On Tuesday, Deutsche EuroShop shares closed at 20.30 EUR, up 4.96% in Germany.
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