Hufvudstaden sees 4.9% increase in management profits

Hufvudstaden, the Swedish property company, has reported a profit after tax of SEK 765.3 mln (EUR 78.2 mln) in the nine months from January to September, up from SEK 716.2 mln in the same period last year. Gross profit from property management increased by 4.9% to SEK 637.4 mln from SEK 607.7 mln last year. Net sales for the group came to SEK 995.4 mln and the rental vacancy rate at the period-end was 7.6%, compared with 7.1% at the turn of the year. Profit per share was SEK 3.81. The group's main activity is property holding, with most of its portfolio in central Stockholm and central Gothenburg.