Reported to OMX The Nordic Stock Exchange via Company News Service on 29 August
2008.
Summary:
Satisfactory interim profit for the Company, Landic Property Bonds I A/S
The Group realised a profit before tax of DKK 7,944k compared with DKK 108,681k
in the comparative period; the first half of 2007. The primary reason for the
decrease is last years value adjustments of investment properties and
debt.
Revenue for the period amounts to DKK 34,738k, which is an increase of a little
more than 2 %.
Profit before value adjustment of investment properties, debt and tax amounts
to DKK 9,944k compared with DKK 8,422k in the comparative period; the first
half of 2007.
Equity amounts to DKK 300,829k at 30 June 2008 compared with DKK 294,872k at 31
December 2008. The development in equity is attributable to the profit for the
period.
The Supervisory Board considers the achieved profit satisfactory.
The Group owns four properties located in Amager with a total area of approx.
87,500 square metres. The Group has concluded leases with SAS regarding the use
of the properties.
The value of the investment properties at 30 June 2008 amounts to DKK
1,225,000k. The investment properties have been assessed to the same value as
from 31 December 2007.
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 approx. DKK 15-19 million. The Supervisory and Executive
Boards maintains this expectation of profit.
Please address questions relating to this Announcement to Company Secretary,
Klaus T. W. Lund, on telephone +45 3378 4000.
