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BRIEF-VGP H1 profit for period of up at 62.5 million euros
August 22, 2017 / 5:11 AM / a month ago

BRIEF-VGP H1 profit for period of up at 62.5 million euros

Aug 22 (Reuters) - VGP NV:

* H1 PROFIT FOR PERIOD OF EUR 62.5 MILLION (+ EUR 19.7 MILLION COMPARED TO 30 JUNE 2016)

* H1 NET VALUATION GAIN ON THE INVESTMENT PORTFOLIO REACHES € 59.9 MILLION (COMPARED TO € 65.1 MILLION AT THE END OF JUNE 2016)

* CAPITAL DISTRIBUTION IN CASH OF € 20.1 MILLION (€ 1.08 PER SHARE) PAID TO THE SHAREHOLDERS ON 4 AUGUST 2017

* VGP HAS DECIDED TO ADOPT A FORMAL DIVIDEND POLICY

* COMPANY INTENDS TO GRADUALLY INCREASE THE DISTRIBUTION OF DIVIDENDS OVER THE NEXT 3 YEARS

* TARGETS ANNUAL DIVIDEND DISTRIBUTION BETWEEN 40% AND 60% OF ITS NET PROFIT

* H1 GROSS RENTAL INCOME EUR 9.1 MILLION VERSUS EUR 13.1 MILLION YEAR AGO

* NET VALUATION OF PROPERTY PORTFOLIO AT 30 JUNE 2017 SHOWED NET VALUATION GAIN OF € 59.9 MILLION (VERSUS NET VALUATION GAIN OF € 65.1 MILLION PER 30 JUNE 2016) Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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