Castellum's income from property management improved by 9% (NO)

Some highlights include: rental income for the period January - March 2005 amounted to SEK 470 mln. (SEK 455 mln. corresponding period previous year), net income after tax for the period amounted to SEKm 163 (85) equivalent to SEK 3.98 (2.07) per share, income from property management improved by 9% to SEKm 176 (162) equivalent to SEK 4.29 (3.95) per share.

Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEK 176 mln. (162), equivalent to SEK 4.29 (3.95) per share. The improvement is 9% and has been achieved chiefly through a larger real estate portfolio and lower interest rate levels.

During the period 14 properties (17) were sold for a total of SEK 310 mln. (375), which exceeded fair value with SEK 43 mln. (75) and the book value according to earlier accounting principles by SEK 153 mln. (151). During the period investments totalling SEK 183 mln.(177) were made, of which SEK 85 mln. (114) were acquisitions and SEK 98 mln. (63) investments in existing properties.

"I'm particularly pleased with the positive net leasing which I see as a result of an improved demand" comments Castellum's CEO, Lars-Erik Jansson.

Source: Castellum

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