Deutsche Wohnen AG,(DWHHF.PK), which engages in the development, management, and sale of residential properties in Germany, Tuesday reported an increase in the Funds From Operations or FFO without disposals for the first quarter, particularly due to the contributions made by the acquisitions.
For the three-month period, the firm reported FFO, excluding the disposals was 30.9 million euros, compared with 18.4 million euros during the corresponding quarter last year.
The company recorded profit for the year of 26.2 million euros, compared with the prior year's figure of 14.4 million euros, citing improvement in all its business segments. Earnings from Residential Property Management rose by 61 percent to 70.9 million euros, earnings from Disposals by 45 percent to 5.5 million euros and earnings from Nursing and Assisted Living by 19 percent to 3.1 million euros.
Looking forward, for fiscal 2013, Deutsche Wohnen confirmed its FFO forecast of 100 million euros, excluding further acquisitions and disposals.
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