Reported to OMX The Nordic Exchange via StockWise on 29 August 2008.
Summary:
Satisfactory result for the Group, Landic Property Bonds VIII (Sverige II)
A/S.
The Group earned a profit before tax of DKK 27,133k compared with DKK 48,646k
in the comparative period; the first half of 2006/07. The primary reason for
the decrease is value adjustments of investment properties, debt and
derivatives.
Revenue for the period amounts to DKK 130,097k, which is at the same level as
last year.
Profit before value adjustment of investment properties, debt, derivatives and
tax amounts to DKK 21,368k compared with DKK 16,103k in the comparative period;
the first half of 2006/07, which is a result of increase in rental income and
decrease in expenses.
The Group owns 77 properties located in Sweden with a total area of approx.
348,977 square metres. The main part (80%) of the square metres are let out to
public institutions while a large private enterprise occupies 15%.
The value of the investment properties at 30 June 2008 amounts to DKK
2,155,556k. The investment properties have been written-down with DKK 32,592k
at 30 June 2008.
In the period, investment of DKK 7,371k have been made in properties. The Group
has sold five properties in the same period.
The Supervisory Board considers the achieved profit satisfactory.
In the annual report for 2007, the Supervisory and Executive Boards expressed
expectations of profit before tax and value adjustments of investment
properties and debt of DKK 25 - 28 million.
The Supervisory and Executive Boards have upwards adjusted their expectations
of profit of DKK 32 - 35 million as a result of increased rental income.
Please address questions relating to this Notice to Company Secretary, Klaus
T.W. Lund, on telephone +45 3378 4000.
