Swedish real estate company Fastighets Balder falls to Q2 loss

Fastighets AB Balder

18/07/2023 08:45

COPENHAGEN, July 18 (Reuters) - Swedish real estate
company Fastighets Balder  BALDb.ST  on Tuesday fell to a
second-quarter net loss citing a drop in property values.
    The company reported a net loss of 1.29 billion Swedish
crowns ($127 million) for the April-June quarter versus a profit
of 3.62 billion a year earlier.
    Sweden is struggling to contain a wider property crisis as
high debts, rising interest rates and a wilting economy have
hurt commercial property companies, with several cut to junk
status by rating agencies.
    ($1 = 10.1869 Swedish crowns)

 (Reporting by Louise Breusch Rasmussen; editing by Jason Neely)
 ((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))