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Belgian WDP net current profit rises 14.7% Y/Y in 2010.

(ADPnews) - Feb 22, 2011 - Belgian real-estate company Warehouses De Pauw, or WDP, (EBR:WDP) reported today its net current profit for 2010 rose 14.7% on the year to EUR 39 million (USD 53.1m).

WDP attributed the increase in the net current result to the further growth of its portfolio in 2009 and 2010 through acquisitions, own project developments and the commissioning of solar energy projects.

The net current profit per share came in at EUR 3.11 versus EUR 3.14 over the same period last year, taking into account the dilution due to the newly issued shares.

The company proposed a dividend of EUR 2.50 net per share, maintaining its dividend at the 2009 level.

WDP reported a 95.7% occupancy rate as of end-December 2010 compared with 92.4% at the end of 2009.

WDP also said it plans for the next three financial years to increase the net current profit per share by 20% in total. For 2011, the company targets an increase in net current profit to at least EUR 41 million.

(EUR 1.0 = USD 1.361)
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Publication:ADP News Belgium
Article Type:Financial report
Date:Feb 22, 2011
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