Austrian property group Conwert raises full-year targets
VIENNA Aug 28 (Reuters) - Austrian real estate group Conwert raised its full-year targets on Wednesday after reporting record first-half results that were boosted by rental income.
Conwert said it now aims to make 36 million euros ($48 million) from operations before sales (FFO1), up from its previous target of 25 million euros, excluding restructuring charges of 3-5 million euros in the second half.
The company, which is switching focus from buying and selling real estate to managing residential property, released preliminary first-half results last week.
Conwert also said that it now expects an improved sales return of 7-9 percent above property book values this year, up from its previous forecast of 0-5 percent. ($1 = 0.7466 euros) (Reporting by Georgina Prodhan; Editing by David Goodman)
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- WTO overcomes last minute hitch to reach its first global trade deal
- North Korea frees U.S. Korean War veteran after seven weeks |
- Ice storm causes blackouts, delays in Texas, Arkansas
- Colorado baker discriminated by denying gay couple wedding cake: judge