Finnish property investor CapMan reported net profit for full-year 2007 of EUR 24.2 mln on Thursday, up from EUR 12.4 mln a year earlier. Profit attributable to shareholders was EUR 18.6 mln, up from EUR 11.5 mln, representing full-year earnings per share of EUR 0.24, compared with EUR 0.15 a year earlier. Group turnover increased to EUR 51.6 mln, from EUR 38 mln in 2006.
Finnish property investor CapMan reported net profit for full-year 2007 of EUR 24.2 mln on Thursday, up from EUR 12.4 mln a year earlier. Profit attributable to shareholders was EUR 18.6 mln, up from EUR 11.5 mln, representing full-year earnings per share of EUR 0.24, compared with EUR 0.15 a year earlier. Group turnover increased to EUR 51.6 mln, from EUR 38 mln in 2006.
The company's own investment funds accounted for EUR 6.2 mln of its turnover, up from EUR 4.4 mln in 2006, with EUR 5.7 mln of this from fair value gains. Capital under management rose 18% to slightly more than EUR 3 bn in 2007. Total investments in CapMan funds came in at EUR 626.8 mln, with EUR 462.1 of this in real estate assets. The remaining EUR 164.7 mln was invested in 'portfolio companies'.
CapMan launched its third private equity real estate fund, CapMan Hotels RE Ky, raising EUR 835 mln, taking total capital managed to EUR 3.9 bn.
The company said it will propose a dividend of EUR 0.16 per share at its upcoming annual shareholders meeting.
