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.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/05/06/20030506BIT00080/wkr0001.doc
The full report
http://www.waymaker.net/bitonline/2003/05/06/20030506BIT00080/wkr0002.pdf
The full report