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BRIEF-VIB Vermoegen FY consolidated net income up at 49.4 mln euros
March 22, 2017 / 6:42 AM / 8 months ago

BRIEF-VIB Vermoegen FY consolidated net income up at 49.4 mln euros

March 22 (Reuters) - VIB Vermoegen AG:

* Proposed dividend increase of 7.8% to 0.55 euros per share

* 2016 guidance fully met

* Further growth in revenue and earnings planned for 2017

* FY consolidated net income also improved by 12.2% to 49.4 million euros

* Overall, FY earnings before interest and taxes (EBIT), adjusted for valuation effects, rose sharply by 7.1% to 61.1 million euros

* FY operating revenue rises by 5.6%

* Anticipates 2017 further revenue growth, coupled with sustained profitability, for current fiscal year

* FY earnings before tax (EBT) rose considerably by 11.8% to 40.8 million euros

* 2017 operating income is expected to increase to between 81.5 million and 85.5 million euros

* Forecasts that 2017 EBIT will rise to between 61.5 million and 64.5 million euros, and EBT to between 43.0 million and 45.5 million euros (excluding valuation effects and extraordinary items in each case)

* Sees 2017 funds from operations (FFO) is expected to come in at between 37.0 million and 39.5 million euros, which is higher than in previous year Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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