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Israeli real estate developer Gazit-Globe Q2 profit slips

Published 2015-08-19, 04:12 a/m
Israeli real estate developer Gazit-Globe Q2 profit slips
GCT
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ATRS
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FCR_u
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CTY1S
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JERUSALEM, Aug 19 (Reuters) - Gazit-Globe GZT.TA , Israel's
largest real estate investment company, reported slightly lower
second-quarter profit as currency effects offset higher rental
income.
Gazit-Globe said on Wednesday that funds from operation
(FFO) were 162 million shekels ($42 million) in the April-June
period, versus 163 million in the same period in 2014. It noted
that a weaker euro and Brazilian real harmed its profit.
Rental income grew 23 percent to 1.51 billion shekels, while
net operating income rose 25 percent, helped by the
consolidation of its Atrium European Real Estate ATRS.VI
subsidiary.
Gazit-Globe said it would pay a dividend of 0.46 shekel a
share for the second quarter.
Gazit-Globe operates in the United States through Equity One
EQY.N and in Canada through First Capital Reality Inc
FCR.TO . It is the largest shareholder in Finland's Citycon
CTY1S.HE , controls shopping mall developer and is expanding in
Brazil.
($1 = 3.8592 shekels)

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