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Germany-based MLP ups dividend as FY'17 profit increases 89.1% YOY

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Germany-based MLP ups dividend as FY'17 profit increases 89.1% YOY

The executive board of Germany-based MLP SE proposed a dividend of 20 cents per share in 2017, up from 8 cents per share the previous year, as it reported a 89.1% year-over-year net profit increase to €27.8 million from €14.7 million.

EPS for the year stood at 25 cents, compared to 13 cents in 2016. Earnings before interest and taxes amounted to €37.6 million, 90.9% higher than €19.7 million in the prior year.

For the fourth quarter of 2017, the company's net profit came in at €16.7 million, up from €5.1 million in the same period a year ago.

For 2018, MLP said it will earmark around €7 million to further fund its university segment and use its equity base for IT investments and potential acquisitions. The firm also foresees EBIT at a level similar to that recorded in 2017.