Dutch property group Nieuwe Steen Investments said its direct investment result per share, a measure of the performance of its core business, inched down to EUR 1.00 in the first nine months of 2007 from EUR 1.02 per share in the same year-earlier period and predicted a full-year direct result of EUR 1.34 to EUR 1.36 per share.

Nieuwe Steen noted that in the fourth quarter of this year, rent proceeds of the home design superstore in Veenendaal and the acquisition of Zeeman Vastgoed Beheer will have a positive impact on the direct result per share. It added, however, that a real improvement will only be realised by new acquisitions in the Netherlands or abroad.

While its direct investment result per share dipped, the sale of property assets and the unrealised revaluation of properties and derivative products allowed Nieuwe Steen’s total investment result to rise to EUR 1.95 per share at the end of the third quarter from EUR 1.52 per share in the year-earlier period.

Nieuwe Steen will pay an interim dividend of EUR 0.33 per share in cash for the third quarter.