EPP interim results June 2018
Rental income rose to EUR67.1 million (2017: EUR46.4 million). Net operating profit increased to EUR59.2 million (2017: EUR41.8 million). Profit for the period attributable to shareholders jumped to EUR79.4 million (2017: EUR39.6 million). Furthermore, headline earnings per share jumped to EUR6.4 cents per share (2017: EUR3.8 cents per share).
EPP's dividend policy states that the company intends to declare 100% of its distributable income to shareholders. The company intends declaring half-yearly dividends, which are expected to be declared for the periods ended 30 June and 31 December of the relevant year. No assurance can be made that dividends will be proposed or declared in any given year.
The board has declared an interim dividend of EUR5.82 cents per ordinary share for the six months ended 30 June 2018.
A further announcement informing shareholders of the salient dates and tax treatment of the dividend will be released in due course.
EPP has a quality portfolio of dominant retail properties complemented by high quality office properties. The company continues to focus on integrating its recent acquisitions into the portfolio, exploring asset management opportunities and continuing on its asset recycling strategy. The Polish economy continues to perform well and the current property fundamentals remain favourable.
The board remains confident that EPP will deliver on its stated full year distribution per share guidance of between EUR11.6 cents to EUR11.8 cents.
There have been no changes to the board during the period under review.