Immofinanz: Satisfying Results in Q1 2013/14

Professional ServicesReal Estate ♦ Published: September 25, 2013; 06:17 ♦ (Vindobona)

The Austrian real estate group registered a moderate increase in operating profits in the first quarter of the 2013/14 financial year.

Immofinanz: Satisfying Results in Q1 2013/14 / Picture: © Immofinanz

Rental income declined slightly to EUR 161.4 million for the reporting period (Q1 2012/13: EUR 162.3 million) as a result of properties sold in the previous year. The results of property sales rose from EUR 4.7 million to EUR 5.7 million (+21.4%), and the results of property development amounted to EUR 8.1 million (Q1 2012/13: EUR -1.0 million). The results of operations…