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Icade's group net current cash flow inches up 1.5% YOY in H1'16

's group net current cashflow for the first half of 2016 came in at €145.9 million, inching up 1.5% from€143.8 million in the year-agoperiod.

Groupnet current cash flow per share amounted to €1.98, also up 1.5% from €1.95 inthe first half of 2015.

Thecompany's EPRA earnings from property investments increased 6.3% year over yearto reach €136.1 million. The healthcare segment EPRA earnings jumped 27.7% toreach €44.6 million during the half, while the commercial segment EPRA earningsslipped 1.7% to reach €91.5 million.

Icadelogged a net profit of €15.4 million attributable to the group, compared to anet loss of €78.4 million in the first half of 2015.

Icadesaid it agreed to sell its holdings in Icade Property Management to the FonciaGroup. The sale is slated to complete on Sept. 30. The company has already soldiPorta to the Visiativ Group. It also agreed to sell Icade Asset Management andIcade Conseil. The company said all its property services activities will bedivested by the third quarter.

Thecompany signed 73 new leases during the half, totaling 65,800 square meters offloor area. Commercial property investments during the period totaled €107.6million, mainly related to developments. The company's development backlogincreased 7.8% compared to Dec. 31, 2015, to reach approximately €1.63 billion.Icade said the backlog surge was mainly attributable to the residential andcommercial segments.

Thegroup's EPRA triple-net NAV increased 1.5% from 2015-end values to reach €74.2per share. EPRA NAV per share was €77.7, up 2.2% from €76.0 as at Dec. 31, 2015.

IcadeCEO Olivier Wigniolle said the company expects to increase its net current cashflow per share by more than 3% in fiscal 2016.