Patrizia: Q1 results, share buy-back lift shares
12/05/2021 08:56
** Shares in Patrizia PATGn.DE are up 2.4%, paring gains
of as much as 9%, after the real estate group announced a share
buy-back program and posted its Q1 results urn:newsml:reuters.com:*:nASN0016NY,
urn:newsml:reuters.com:*:nFWN2MY1HE
** The company reported Q1 operating income of EUR 26.5
million, confirmed its FY 2021 guidance and announced plans for
a share buy-back program for a total purchase price of EUR 50
million ($60.66 million)
** Baader Helvea says the 7% growth in operating income in
Q1 could be regarded as a solid start to the year
** It adds that whereas the operating results in Q1 and
unchanged broad guidance were rather unspectacular, the positive
surprise comes from the share buy-back program
** The stock is among top performers on German smallcap
index .SDAXI
($1 = 0.8243 euros)
((marianna.ciabach@thomsonreuters.com))