News Column

Half-year Report as at 31 March 2014

June 12, 2014

The Supervisory Board of Investeringsselskabet Luxor A/S has today adopted the Half-year Report as at 31 March 2014. Second quarter of the financial year: -- Basic earnings for the second quarter of the financial year amount to DKK 0.6 million (DKK -1.3 million), which is lower than expected. The lower basic earnings are primarily attributable to slower normalisation of losses and adjustment for credit risk on mortgage deeds. -- The Groupís results before tax for the second quarter of the financial year show a profit of DKK 1.8 million (DKK 2.2 million). The results are influenced by positive fair value adjustments of securities of DKK 1.2 million and negative fair value adjustments of debt to credit institutions and mortgage credit loans of DKK 1.6 million. Half-year 2012/13: -- The Groupís results before tax for the half-year show a profit of DKK 7.1 million (DKK 5.5 million). -- Basic earnings for the half-year increased from DKK 0.3 million to DKK 3.3 million. The increase is due to an improvement of losses and fair value adjustment of credit risk on mortgage deeds of 3.7 million. On the other hand, there has been an increase in expenses relating to investment properties of DKK 1.9 million as a consequence of planned maintenance work. -- The net asset value per share in circulation is DKK 406.99 (DKK 401.39). -- Expected results for the year before tax are maintained at DKK 15.0 - 20.0 million. The expected results for the year include basic earnings of DKK 9.0 - 13.0 million against previously DKK 12.0 - 16.0 million. Svend Rolf Larsen, CEO Copyright © 2014 OMX AB (publ).

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Source: OMX

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