Kungsleden’s first quarter: Strong growth and improved operating net
• Profit before tax was SEK 435 (137) m and net profit was SEK 365 (119) m, equivalent to SEK 8.00 (3.10) per share.
• Rental revenues and operating net increased by 65 and 33 per cent respectively to SEK 630 (382) m and SEK 350 (263) m respectively.
• In the interim period, 114 properties were divested for SEK 2,839 m generating profits of SEK 112 m and cash flow of SEK 363 m; 4 properties were acquired for SEK 139 m.
• Profit for calculating dividends for the period amounted to SEK 478 m. Kungsleden is retaining its forecast for the financial year 2006 of profit for calculating dividends of SEK 1,500 m.
”Kungsleden had a strong start to the year with the result three-folding. Property trading during the first quarter had a positive effect on earnings capacity while the risk-adjusted returns were improved. We hope that the AGM’s 3:1 share split decision will contribute to the Kungsleden share continuing to be an attractive investment option”, says Jens Engwall, CEO, in a comment.