August 21, 2019 / 5:09 PM / a month ago

Austria's CA Immo posts H1 profit rise of 2%

VIENNA, Aug 21 (Reuters) - Commercial property group CA Immo posted a 2% increase in first-half core profit, thanks to growing rental income following last year’s building and acquisition spree.

Funds from operations (FFO I), a measure of recurring free cash flow and the company’s key indicator for operational strength, came in at 64.5 million euros ($71.6 million), the group said on Wednesday.

CA Immo, which mainly invests in offices in Austria, Germany and central and eastern Europe, confirmed its full-year forecast of recurring earnings (FFO I) of more than 125 million euros, up from last year’s 118.5 million.

The Austrian group mainly focuses on high-quality inner-city properties in big cities and has a property portfolio of around 4.7 billion euros. ($1 = 0.9008 euros) (Reporting by Kirsti Knolle; Editing by Christoph Steitz)

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