Befimmo posts H1 net loss, plans capital increase

* H1 net loss 49.7 million euros

* Planning 140 mln euro capital increase early June

* Confirms dividend forecast

BRUSSELS, May 25 (Reuters) - Belgian property investment group Befimmo (BEFB.BR) on Monday reported a net loss of 49.73 million euros ($69.6 million) for the six months to March 31 and said it was planning a capital increase.

A Reuters poll of three analysts had produced an average expectation of a net loss of 37 million euros.

The first quarter, when the group reported a 55.5 million euros net loss, was hit by a 45.7 million euros revaluation of property and 18.9 million euros loss from hedging, but the group said its portfolio remained stable in the second quarter.

The group is planning to launch a 140 million euro capital increase on June 4, Chief Executive Benoit De Blieck told a news conference.

De Blieck said the capital increase was aimed at strengthening the group's balance sheet and to enable it to seize potential opportunities to grow.

"We are not obliged to do anything. We have no appointments to enter talks with our lenders before March 2011," De Blieck said.

"A decision has not yet been taken, it would be taken on June 3 after the market closes," De Blieck added.

The prospectus for the capital increase would include a revised forecast for net cash flow and dividend, but De Blieck said there was no need for shareholders to be concerned.

The company, which focuses on offices in Brussels, the majority of them on long-term let to public institutions, said its rental income in the October to March period rose 5 percent to 57.75 million euros.

De Blieck repeated that the group would distribute dividends in line with previous guidance for a gross dividend of 4.60 euros per share for the year to the end of December.

In its 2008 annual report, Befimmo forecast net cash flow of 57.8 million euros or 4.43 euros per share versus 4.58 euros in 2007.

(Reporting by Antonia van de Velde)