February 6, 2019 / 4:58 PM / 9 months ago

France's Klepierre sees slower earnings growth this year

(Reuters) - French shopping centre operator Klepierre expects its earnings growth to slow sharply this year after reporting 2018 results on Wednesday that beat its own forecasts.

Rising net rental income, reduced debt and completion of its share buy-back programme, lifted profits last year, the company said.

Klepierre reported a 6.5 percent rise in its full-year net current cash flow per share (NCCF) - the only metric it provides forecasts for - to 2.65 euros, exceeding the upper end of the company’s forecast range of 2.62 euros.

However, the new guidance it provided for the current year suggests growth will roughly halve as it forecast NCCF per share of between 2.72 and 2.75 euros, up 2.6-3.8 percent from last year.

Reporting by Piotr Lipinski in Gdynia; Editing by Susan Fenton

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