February 24, 2017 / 6:55 AM / 6 months ago

BRIEF-VGP FY gross rental income down at 16.8 million euros

Feb 24 (Reuters) - VGP NV:

* FY gross rental income 16.8 million euros ($17.8 million)versus 17.1 million euros year ago

* FY net profit 91.3‍​ million euros versus 86.6 million euros year ago

* Net valuation property portfolio at Dec 31 ‍​118.9 million euros versus 104.0 million euros year ago

* The board of directors has decided to convene an extraordinary shareholders meeting to propose a capital reduction in cash of 20 million euros (1.08 euros per share)

* As from 2018 group intends to move towards sustained profit distribution policy whereby profits generated by joint venture will be distributed to shareholders

* Intends to make 20 million euros capital distribution in cash in 2017 Source text: bit.ly/2lBYKU1 Further company coverage: ($1 = 0.9451 euros) (Gdynia Newsroom)

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