Klepierre 2013 revenue up 2.2 pct, overshoots target

PARIS Mon Feb 3, 2014 11:47am EST

PARIS Feb 3 (Reuters) - French property group Klepierre posted a 2.2 percent rise in 2013 rental income on like-for-like basis in 2013, overshooting its full-year earnings targets.

The real-estate group, co-owned by Simon Property and BNP Paribas, which has been focusing on large retail properties that are expected to provide higher returns, said it completed its 2012-2013 disposal programme worth 1.3 billion euros ($1.76 billion), exceeding its 1-billion target.

Klepierre said gross rental income from its mall-focused portfolio grew by 2.5 percent in 2013. Net current cash flow per share grew by 3.8 percent to 2.07 euros, compared to a target of at least 3 percent.

It said it now forecast cash flow per share of "at least 2 euros" in 2014. ($1 = 0.7397 euros) (Reporting by Maya Nikolaeva; Editing by Lionel Laurent)

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