Echo Polska Properties beats distribution target
The Polish property fund is positive about future as results impress
Polish office and shopping mall owner Echo Polska Properties (EPP) beat its prelisting dividend forecast by 2.2% in the four months to December 2016. The company, which owns assets worth about €1.4bn, released its maiden annual results on Thursday after listing in September 2016. Although distributable earnings of €34m were marginally below the €34.3m forecast in its prelisting statement, EPP achieved a clean-out distribution per share for the period to end August that was 0.5% ahead of forecast at 2.44 euro cents. Its dividend for the four months to December 31 of 3.14 euro cents was 2.2% ahead of forecast. EPP can grow to own €3.5bn in assets by 2022, according to CEO Hadley Dean.
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