LEG Immobilien eyes profit rise in 2014

FRANKFURT Thu Jan 9, 2014 1:55am EST

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FRANKFURT Jan 9 (Reuters) - German property company LEG Immobilien said it expected funds from operations (FFO I), a measure of its operating profitability, to reach between 155 million euros ($210.8 million) and 159 million in 2014.

This total does not include the effects of any planned future acquisitions, the company said in a statement on Thursday.

It had said in November it expects FFO I of 138.5 to 141.5 million for 2013.

The group also announced the purchase of a portfolio with 537 residential units in the German state of North Rhine Westphalia and a preliminary agreement for a portfolio with a further 2,000 units. ($1 = 0.7353 euros) (Reporting by Victoria Bryan; Editing by David Holmes)

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