July 27 (Reuters) - France's Klepierre started
seeing signs of recovery in the second quarter despite reporting
a fall in revenues as its shopping mall network reopened, it
said on Tuesday.
The Paris-headquartered group said earlier this year it
expected to reopen most of its shopping malls, closed due to
COVID-19 measures and lockdowns for months, by the end of May.
Revenues from shopping mall rents in the second quarter rose
by 48% quarter on quarter to 188.5 million euros ($222.94
million) but were still down 28% compared to a year ago due to
Klepierre, the main landlord for some of Europe's biggest
retailers such as Inditex, H&M and Sephora
, confirmed its cash flow target for 2021 of 1.80 euros
The company added that it was unable to estimate the
potential impact of the pandemic as the fast spread of the delta
variant of COVID-19 threatens to trigger another round of
lockdowns and restrictions.
($1 = 0.8455 euros)
(Reporting by Silvia Recchimuzzi and Federica Mileo in Gdansk
Editing by Chris Reese)