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By
Reuters
Published
Oct 30, 2015
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Klepierre says 9-mth revenue grows 40 pct, confirms 2015 guidance

By
Reuters
Published
Oct 30, 2015

Klepierre reported on Wednesday a 41 percent increase in revenue in the first nine months of the year, helped by the acquisition of Dutch rival Corio, and said that an upturn in consumption should support growth next year.

Plenilunio Mall - Klepierre


Klepierre, which has trimmed its portfolio to focus on fast growing regions and brands, confirmed its 2015 outlook as retailers in its shopping malls showed "solid" performance.

The company, which is part owned by Simon Property Group and BNP Paribas, said total revenues during the first nine months of the year rose to 976.5 million euros ($1.07 billion) from to 692.9 million euros ($759.49 million) in same period of last year.

The mall operator said it still expected net current cash flow of 2.15 euros per share this year.

"Cash flow growth will support a further distribution per share increase for fiscal year 2015," Klepierre said in the statement.

$1 = 0.9123 euros

 

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