UPDATE 1-Cofinimmo says Q1 result as forecast

* Cofinimmo Q1 net current profit 1.91 euros per share

* Debt ratio reduced

(Adds further details)

BRUSSELS, May 11 (Reuters) - Belgian property investment group Cofinimmo (COFB.BR) said on Monday its first-quarter net current result per share was in line with its forecast and said it had reduced its debt ratio.

Net current profit for the first quarter, excluding the impact of accounting rule IAS 39 (adjustments in the value of financial instruments) as well as non-recurring items, was 1.91 euros ($2.60) per share, slightly above last year's 1.89 euros per share.

The Brussels-based group, which rents out office space to businesses and government institutions, said in February that it believed results this year would be similar to those of 2008.

In March the group raised 72 million euros through a placing of treasury shares, a move which helped the group to reduce its debt ratio 49.71 percent during the first quarter from 52.8 percent at the end of 2008, it said in a statement. (Reporting by Antonia van de Velde; Editing by Greg Mahlich) ($1=.7349 euros)