Sjælsø Gruppen upgrades 2005 and 2006 expectations (DK)

Sjælsø Gruppen's Board of Directors have reviewed the Group's current and future projects and concluded that sales exceed the original expectations. On the basis hereof, the Board has decided to upgrade its profits forecast from DKK 450 million (approx. €60m) to approximately DKK 500 (approx. €67m) million before tax for 2005.

Since the beginning of the year, Sjælsø Gruppen has sold 1,635 residences (980 owner/occupier to families and 655 rental units to pension funds and investors).

2006 Expectations
Based on completed sales and the development of new projects, including Havneholmen, Sluseholmen, Margretheholm, Teglholmen, Nærum, Lyngby and Skanderborg, the forecast for 2006 is upgraded from DKK 450 million (approx. €60m) to DKK 600 million (approx. €80m) before tax.

Source: Sjælsø Gruppen

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