Swedish property developer JM has presented its Interim Report January - September 2005. Over the first three quarters of this year the company reports continued strong sales and improved profitability.
The highlights of the Interim Report are:
- Net sales increased by 17% to SEK 7,011m (5,970) and the number of sold residential units totaled 2,958 (3,349)
- Profit after financial items improved to SEK 627m (425) and profit after tax for the period rose to SEK 544m (303). The operating margin increased to 10.0% (8.8)
- Property sales of SEK 539m (722) provided capital gains of SEK 100m (96)
- Return on equity totaled 22.6%. Earnings per share for the nine-month period increased to SEK 20.20 (10.80)
- Cash flow from operating activities during the first nine months totaled SEK 1,471m (1,164)
- The Group's capital requirements are under review. Preliminarily, the Group's surplus of equity is estimated at SEK 800 - 1,000m