Kungsleden's first quarter: earnings after financial items SEK 129 m (SE)

Kungsleden has announced its first quarter figures. The highlights include:

  • Profit after financial items was SEK 129 (83) mln and net profit was SEK 114 (142) mln, equivalent to SEK 6.00 (7.50) per share.
  • Kungsleden's rental revenues and operating net increased by 4% and 4%, to SEK 382 (369) mln and SEK 264 (253) mln respectively.
  • Six properties were divested for SEK 155 mln in the period, generating profits of SEK 20 mln and a cash flow of SEK 30 mln; 70 properties were acquired for SEK 2,357 mln.
  • Kungsleden is reiterating its forecast of profit for calculating dividends of SEK 600 mln for the financial year 2005.

"The result of our property trading improved considerably, despite the fact that we only sold six properties for a total of SEK 155 mln. Meanwhile, we acquired as many as 70 properties for a total of SEK 2.4 bln and thereby laid the foundation for the new business area Care Properties. These properties fit well into our business concept of owning and managing real estate generating high and stable returns", says Jens Engwall, CEO, commenting on the first quarter.

Source: Kungsleden

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