S Immo Increases Profit to Over € 20m

Companies ♦ Published: November 23, 2011; 19:16 ♦ (Vindobona)

The Austrian real estate company reported strong results for the first nine months of the year. EBIT improved by 63% to € 74m.

S Immo Increases Profit to Over € 20m / Picture: © Vindobona.org

The strong performance of Austrian stock exchange listed S Immo AG in the first half of the year continued into the third quarter 2011. Rents were thoroughly satisfactory at € 91.8m (Q3 2010: € 75.5m). Income from hotel operations for the first three quarters climbed from € 27.1m in 2010 to € 29.3m this year. Profits from hotel operations were up 16.7% to € 6.9m. In the first…