Immofinanz: Net Income Down, Earnings Up

Businessn.a. ♦ Published: August 6, 2012; 16:43 ♦ (Vindobona)

The Austrian real estate group confirmed the positive operating trend set in recent quarters with the close of the 2011/12 financial year, which brought a slight 1.2% year-on-year increase in rental income.

Immofinanz: Net Income Down, Earnings Up / Picture: © Vindobona.org

This positive development was supported chiefly by the retail segment. Results of operations totalled € 478.6m, which represents a plus of 4.3% (2010/11: € 458.7m). Other valuation results of € 212.4m (incl. foreign exchange effects) led to an improvement of over 60% in EBIT to € 691.0m (2010/11: € 424.1m). Net profit for the 2011/12 financial year declined to…