STOCKHOLM, Sweden, May 06, 2003 (PRIMEZONE) --Drott (Other OTC:DOTBF):
Jan-Mar Jan-Dec 3 months 12 months GROUP, SEK M 2003 2002 2002 Ongoing property management operations ("operations") 163 160 698 Gain on property sales 13 120 257 Nonrecurring items - - -338 Profit before tax 176 280 617 Current tax -1 -27 -49 Deferred tax -26 -12 -24 Profit after tax 149 241 544 OPERATIONS, SEK Earnings per share 1.54 1.46 6.43 Cash flow per share 2.76 2.60 11.17
- Continued weak office rental market- Residential market stable- Unchanged full-year forecast
Drott owns commercial and residential properties in regions and metropolitan areas with faster long-term growth than the rest of the country. Three-quarters of rental revenues are from the Stockholm region, and the rest from the Oresund and Gothenburg regions. Property values, Dec. 31, 2002: SEK 40.2 billion. Drott is the largest real estate company listed on the Stockholm Stock Exchange. 50,000 shareholders. Market capitalization: SEK 7.7 billion.
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