Brief: Balder Says Higher Rates Lead To Falling Profit From Property Management In Q1

Fastighets AB Balder

03/05/2024 07:18

May 3 (Reuters) - Fastighets AB Balder  BALDb.ST :
    * Q1 RENTAL INCOME AMOUNTED TO SEK 3,129M (2,895)
    * Q1 PROFIT AFTER TAX ATTRIBUTABLE TO PARENT COMPANY'S
SHAREHOLDERS AMOUNTED TO SEK -595M (-51)
    * Q1 PROFIT FROM PROPERTY SEK 1,513M (1,646)
    * Q1 CHANGES IN VALUE OF INVESTMENT PROPERTIES AT  SEK –649
MILLION VERSUS SEK –1,574 MILLION YEAR AGO
    * STRONG INCREASE IN NET OPERATING INCOME BY JUST OVER 8%,
BUT
HIGHER INTEREST RATES LED TO DECLINE IN PROFIT FROM PROPERTY
MANAGEMENT

Source text for Eikon:  ID:nWkr5JQxNb 
Further company coverage:  BALDb.ST 

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