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Foncière des Régions logs 4.2% growth in recurring net income in H1

reported thatfirst-half recurring net income rose 4.2% year over year to €176.6 million.

The companypartially attributed the increase to 5.9% year-over-year growth in first-half netrental income, which hit €287.1 million. On a per-share basis, recurring net incomerose 1.0% over the previous year to €2.64, affected by the share issuance made toincrease the company's stake in Foncièredes Murs.

Foncièredes Régions' rental income in the hotel service sector dropped 2.1% on a like-for-likebasis due to a decline in AccorHotels rents following the terrorist attacks in Parisat the end of 2015 and in Brussels in March.

EPRANAV rose 11.4% to €5.65 billion as of June 30 year over year, while EPRA NAV pershare increased 8.7% to €82.4. Shareholders equity grew to €4.87 billionas of June 30 from around €4.64 billion at the end of 2015.

At theend of the first half, Foncière des Régions' portfolio comprised offices in France and Italy,residential assets in Germany and hotels in Europe worth €18.3 billion.

Lookingahead, the company confirmed its target of a stable recurring net income per sharefor 2016.