Befimmo posts H1 net loss, plans capital increase
* H1 net loss 49.7 million euros
* Planning 140 mln euro capital increase early June
* Confirms dividend forecast
BRUSSELS, May 25 (Reuters) - Belgian property investment group Befimmo (BEFB.BR: Quote, Profile, Research) on Monday reported a net loss of 49.73 million euros ($69.6 million) for the six months to March 31 and said it was planning a capital increase.
A Reuters poll of three analysts had produced an average expectation of a net loss of 37 million euros.
The first quarter, when the group reported a 55.5 million euros net loss, was hit by a 45.7 million euros revaluation of property and 18.9 million euros loss from hedging, but the group said its portfolio remained stable in the second quarter.
The group is planning to launch a 140 million euro capital increase on June 4, Chief Executive Benoit De Blieck told a news conference.
De Blieck said the capital increase was aimed at strengthening the group's balance sheet and to enable it to seize potential opportunities to grow. Continued...
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