New Europe Property Investments PLC (NEPI) achieved 17.59 euro cents in recurring distributable earnings per share in the six months ended 30 June 2015‚ in line with its guidance issued on 11 February 2015‚ the company said in a statement on Wednesday.

This is a 24% increase in recurring distributable earnings per share compared to the first half of 2014. The board of directors declared a distribution of 18.17 euro cents per share for the six months.

Shareholders have the option to receive their distribution as cash or an issue of fully-paid shares at a ratio of 1.92 new shares for each 100 held‚ the company said.

The group said it reached a significant milestone with the completion during the first half of 2015 of Mega Mall‚ its largest and most ambitious development project to date.

The 75‚000m2 mall is situated in eastern Bucharest‚ Romania.

The board is confident that distributable earnings per share for 2015 will be about 20% higher compared to 2014‚ it said.