Office and healthcare property investor Cofinimmo reported rental revenues were up by 1.1% in the first quarter of 2018 compared to the same period of last year with a higher net result.
Net result from core activities for the 3 months was €31.3 million, versus €30.3 million in Q1 2017, and net result including revaluations was €65.8 million, versus €37.2 million in Q1 2017, or €3.09 per share, versus €1.77 in Q1 2017.
The company said the occupancy rate was stable at 94.3% and residual lease lengths were long at 10.1 years. Debt ratio at the end of the period was lower at 41.1%, down from 43.8% at the beginning of the year.
Cofinimmo confirmed its forecast for the full year 2018 net result from core activities as €6.56 per share and the gross dividend as €5.50 per share.