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Nexity updates FY'18 guidance after topping FY'17 targets

Nexity expects full-year 2018 EBITDA to increase to about €485 million from 2017's restated €448 million and previous guidance of €325 million.

The expected increase of about 10% also applies to its full-year 2018 revenue target. For its dividends, assuming a 75% payout ratio, the company expects to pay €2.50 per share in 2018 and at least €2.50 in 2019. Previously, it expected dividend per share for 2018 to be €2.40.

Nexity Chairman and CEO Alain Dinin said that in 2017 the company beat all its sales and financial records and exceeded its initial targets. Full-year revenue climbed 14% to €3.5 billion, current operating profit was up 20% to €321 million and group share of net profit increased 33% to €186 million.

Earlier, the French real estate company expected revenue to increase 10% and current operating profit to hit about €300 million in the year.