Deutsche EuroShop has announced record earnings for 2006, with consolidated profit increasing 106% to EUR 100.3 mln from EUR 48.7 mln in 2005. Germany's only public company that invests solely in shopping centers in prime locations forecast that its revenues in financial year 2007 will remain on a level with last year - between EUR 92 mln and EUR 94 mln as it expects Galeria Baltycka, which will open in fall 2007, will be able to partially offset the revenue losses caused by the sale of the two shopping centers last year.
Deutsche EuroShop has announced record earnings for 2006, with consolidated profit increasing 106% to EUR 100.3 mln from EUR 48.7 mln in 2005. Germany's only public company that invests solely in shopping centers in prime locations forecast that its revenues in financial year 2007 will remain on a level with last year - between EUR 92 mln and EUR 94 mln as it expects Galeria Baltycka, which will open in fall 2007, will be able to partially offset the revenue losses caused by the sale of the two shopping centers last year.
From 2008, the company's shopping centers in Hameln and Passau will begin to contribute to revenue and earnings for the first time and Galeria Baltycka will be in operation for its first full financial year. 'The executive board therefore expects revenue to climb to between EUR 108 mln and EUR 112 mln in 2008,' the MDAX-listed company said.
