Reported to OMX The Nordic Stock Exchange via Company News Service on 29 August
2008.
Summary:
Satisfactory performance for the Group, Landic Property Bonds VII (Stockholm)
A/S
The Group earned a profit before tax of DKK 33,898k compared with DKK 28,351k
in the comparative period; the first half of 2006/07. The primary reason for
the increase is a better result before value adjustments of investment
properties, debts and derivatives.
Revenue for the period amounts to DKK 99,019k, which is at the same level as
last year.
Profit before value adjustment of investment properties, debt and tax amounts
to DKK 9,856k compared with DKK 4,648k in the comparative period; the first
half of 2006/07.
The Group owns 11 properties located in and around Stockholm with a total area
of approx. 154,600 square metres.
The value of the investment properties at 30 June 2008 amounts to DKK
2,347,380k. The investment properties have been written-down by DKK 19,050k at
30 June 2008.
In the period, investments of DKK 6,993k have been made in the properties. The
Group has not acquired or sold 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 22-25 million.
The Supervisory and Executive Boards have subsequently adjusted the
expectations of full-year performance to approx. DKK 15 - 18 million as a
result of primarily higher costs of maintenance and energy.
Please address questions relating to this Announcement to Company Secretary,
Klaus T. W. Lund, on telephone +45 3378 4000.
