Drastic Decrease in Profits for Immofinanz Group

Published: September 26, 2011; 09:46 · (Vindobona)

The Austrian real estate company records increasing rental income in the first quarter of 2011/12. The decline in profits is due to foreign exchange effects.

Drastic Decrease in Profits for Immofinanz Group / Picture: © Vindobona.org

The first quarter of the 2011/12 financial year for Immofinanz Group was characterised by volatile financial markets, fluctuating foreign currencies and unusually high negative foreign exchange effects. This was reflected in net profit, which amounted to € 28.2 m for the reporting period. However, an adjustment for foreign exchange effects shows that the company would have been able…

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