Belgium's GIMV makes Q3 profit from asset sales

BRUSSELS Thu Feb 21, 2013 2:27am EST

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BRUSSELS Feb 21 (Reuters) - Belgian investment group GIMV said it booked a positive result in its fiscal third quarter as profits from divestments outweighed the impact on a weak economy on its portfolio.

The group said on Thursday that the tough economic conditions had negatively impacted the value of its portfolio of companies in the quarter.

As a result of the divestments, which included its stake in Devgen after a bid from Syngenta, the group's equity value increased by about 1 percent during the quarter to 980.8 million euros ($1.31 billion).

GIMV's financial year starts on April 1. ($1 = 0.7479 euros) (Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)

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