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Deutsche Annington Profit Gains on Higher Rental Income

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Deutsche Annington Immobilien SE, Germany’s largest publicly traded owner of homes, said nine-month profit rose about 26 percent after the company cut property-management costs and increased its rental income.

Funds from operations excluding divestments, a measure of a property company’s ability to generate cash, climbed to 205 million euros ($258 million) from 163.4 million euros a year earlier, the Bochum-based company said in a statement today. Full-year FFO will be at the upper end of its target range, Deutsche Annington said.