Unibail-Rodamco SE (UNBLF.PK) reported first half 2012 net result attributable to the owners of the parent of 761.6 million euros compared to 883.0 million euros last year. On a per share basis, net result attributable to the owners of the parent dropped to 8.54 euros from 10.00 euros last year.
Recurring earnings per share for the first half 2012 was 4.94 euros, up 4.2 percent from 4.74 euros in 2011. The 4.2% increase from H1-2011 was driven by robust like-for-like performance across all the Group's businesses, a continued low average cost of debt and a relentless focus on cost control.
Net comprehensive income for the owners of the parent decreased to 770.3 million euros from 920.8 million euros in the same period last year.
Net rental income for the period was 661 million euros compared to 647 million euros last year.
For 2012, the Group remains positive in its expectations on rental income growth. This is driven by ongoing strong fundamentals, such as low vacancy, sustainable occupancy cost ratios and good rental uplifts. Against this backdrop, the Group is confident in its ability to meet its recurring earnings growth target of 4% for full year 2012.
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by RTT Staff Writer
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