VIENNA, Sept 25 Austrian property group
Immofinanz lifted first-quarter profit from operations
by 22.6 percent to 121.7 million euros ($157.2 million), boosted
primarily by rental income from an acquisition, it said on
Net profit fell by around two-thirds to 9.2 million due to
the non-cash impact of foreign exchange translations and
valuation of derivatives, it said. Excluding these, net profit
fell nearly 19 percent to 69.1 million.
"For the remainder of this financial year, we expect to
continue our stable growth in line with the high first
quarter," Chief Executive Eduard Zehetner said.
Immofinanz in August forecast sharply higher profit in its
2012/13 year thanks to the takeover of a shopping centre in
Russia and faster turnaround times for selling assets.
($1 = 0.7743 euros)
(Reporting by Michael Shields; Editing by David Cowell)