Deutsche Konsum profits down
Deutsche Konsum REIT, which specializes in supermarkets and other retail properties, has announced preliminary figures of €30.6m in earnings for the 2017/2018 financial year, lower than in the previous period (€37.4mn). The decline resulted from a lower valuation yield of €16.3mn (2016/2017: €28.4mn). Adjusted for this effect, however, earnings increased by €5.3mn, primarily due to a 52% increase in rental income to €29.3mn. FFO increased by 61% to €16.5mn. The Management Board expects FFO of between €26mn and €29mn for the new 2018/2019 financial year. For this, the portfolio – currently with 103 retail properties – is to be enlarged.
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