German real estate company Deutsche Euroshop is aiming for double-digit growth in annual earnings before interest and tax (EBIT) to 2012, its chief executive was quoted as saying.
Claus-Matthias Boege also expected single-digit percentage growth in annual sales through 2012, he was quoted as saying in a preview of an interview with German magazine Euro published on Monday.
For 2008, he confirmed the company's outlook for a 17 percent rise in sales to 108 million euros ($158 million) and a 21 percent EBIT increase.
The focus would be on organic growth rather than acquisitions, Boege added.
We are keeping our eyes open but at the moment we don't see any realistic takeover candidates, he said.
The company planned no investments in new shopping malls, discounters or hardware stores, a strategy Deutsche Euroshop had pursued until recently.
Only when prices fall, would we reconsider, Boege said.
Euroshop has 200 million euros in equity and credit lines for investments. (Reporting by Jan Schwartz, writing by Cornelia Krause; Editing by Paul Bolding)