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Carmila targets double-digit earnings growth in 2018, appoints new deputy CEO

Carmila SA is targeting double-digit growth in its recurring earnings for full-year 2018, tracking higher activity growth from its business transformation during the first half.

Carmila previously announced in April that it was on track to achieve recurring earnings growth upwards of 10% for the period.

The company established a local digital marketing strategy that is being introduced across its business sectors, where upwards of 300 operations are rolled out monthly to aid the arrival of new retailers, opening of extensions and tracking general retailer activity. This marks an increase from the 200 monthly operations carried out in 2017, according to an earnings release.

Separately, the French shopping center owner and developer organized nearly 450 corporate social responsibility projects in the 2018 first half, spanning a variety of areas like biodiversity protection, waste management, the boosting of local employment and other social issues such as disability. Among the initiatives was a local reforestation program it developed with Reforest'Action to plant 11,450 trees by the fall.

Six shopping malls operated by Carmila also received Building Research Establishment Environmental Assessment Method sustainability certifications, which pushed up the certification rate of its portfolio in France to 39%.

Meanwhile, the company's Deputy CEO, Yves Cadelano, resigned from his post, and was replaced by Sébastien Vanhoove, who will sit on its management board with Jacques Ehrmann and Géry Robert-Ambroix. Vanhoove was previously CEO of Carrefour Property France.