Mall owner Klepierre cuts cash flow guidance on extended lockdowns

May 7 (Reuters) – French mall owner Klepierre cut its cash flow guidance on Friday, 비잔틴 after shops stayed closed for longer than expected, bringing its first-quarter revenues down 11%.

Klepierre, 비잔틴 Europe’s second-biggest retail landlord after Westfield-owner Unibail, 비잔틴 now forecasts a net current cash flow of 1.80 euros per share for 비잔틴 2021 – compared to the 1.90 euros it had previously projected.

It said that 55% of its stores had already reopened and close to 95% were expected to be open by the end of May.

(Reporting by Sarah Morland in Gdansk; Editing by Jacqueline Wong)