The German commercial property lender Hypo Real Estate Group has reported a 25% increase in pre-tax profits. In figures released Wednesday, pre-tax profits for the first three quarters of 2006 were EUR 410 mln, an increase of around 25% over the same period in 2005, where pre-tax profits totalled EUR 327 mln.
The German commercial property lender Hypo Real Estate Group has reported a 25% increase in pre-tax profits. In figures released Wednesday, pre-tax profits for the first three quarters of 2006 were EUR 410 mln, an increase of around 25% over the same period in 2005, where pre-tax profits totalled EUR 327 mln.
Pre-tax profits in the third quarter were EUR 140 mln, an increase of 25% over pre-tax profits of EUR 112 mln during the same period in 2005. However the total fell slightly short of analysts' expectations, according to the news agency AFX. Analysts polled by AFX News had expected an average pre-tax profit of EUR 142 mln, the news agency reported.
'After nine months all the indicators are showing that Hypo Real Estate Group will meet its targets for 2006 and will even exceed targets in some cases,' said Hypo Real Estate Holding CEO Georg Funke, commenting on the results.
