Swedish property group SBB posts smaller Q3 loss (updated)

Samhallsbyggnadsbolaget I Norden AB

27/11/2024 07:09

(Adds pretax loss figure, background from paragraph 2)
       Nov 27 (Reuters) - Swedish real estate group SBB
 SBBb.ST  reported on Wednesday a smaller pretax loss for the
third quarter compared to a year ago, as it carries on with its
bid to cut debt and restructure its business.
    SBB, which owns properties such as hospitals and care homes
across Sweden, reported a July-September loss before tax of 1.92
billion Swedish crowns ($174.83 million), compared with a loss
of 3.13 billion a year earlier.
        The company was one of several 
    European real estate groups
     forced to cut debt and restructure amid high interest rates
and weak economies in recent years, with Sweden among the
hardest hit.
  

($1 = 10.9822 Swedish crowns)

 (Reporting by Greta Rosen Fondahn, editing by Terje Solsvik)
 ((Greta.RosenFondahn@thomsonreuters.com))