Grand City Properties SA said funds from operations I totaled €197.9 million in 2018, a gain of 11.1% from €178.0 million in the previous year.

Full-year FFO I amounted to €1.19 per share, an increase of 6.2% year over year from €1.12 per share.

The S&P Global Market Intelligence consensus FFO estimate for 2018 was €1.11 per share.

Profit attributable to owners of the company came to €488.6 million, compared with €534.6 million in the prior-year period. EPS weighed in at €2.76, down 10% from €3.06.

The S&P Global Market Intelligence consensus normalized EPS estimate for 2018 was €2.92.

Rental and operating income rose 10.1% on an annual basis to €545.0 million from €494.9 million.

The Luxembourg-based real estate operator and manager will propose to pay a dividend of 77 euro cents for 2018 at its next annual general meeting, an increase compared to the previous annual dividend of 73 cents. The amount represents a payout ratio of 65% of FFO I per share.