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S Immo: Higher Net Income Despite Lower Revenues
The Vienna listed S Immo AG today published its results for the first half year. Earnings remained stable. Due to lower financing costs, net income was up by 50%.
S Immo: Higher Net Income Despite Lower Revenues / Picture: © Vindobona.org
Gross profit
Despite the property portfolio reduction as a result of profitable property sales, rental income performed very satisfactorily; amounting to € 60.6m, compared to € 61.7m for the first half of 2011. Gross profit from hotel operations was € 3.3m (first half of 2011: € 4.2m). S IMMO’s gross profit totalled € 53.2m (first half of 2011: €…
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