Reuters logo
Ackermans & van Haaren results buoyed by unit sale
August 28, 2013 / 5:27 AM / 4 years ago

Ackermans & van Haaren results buoyed by unit sale

BRUSSELS, Aug 28 (Reuters) - Belgian investment group Ackermans & van Haaren increased net profit by 40 percent, buoyed by improved results at dredger DEME and income from the sale of lumber producer Spano Group.

DEME, which Ackermans jointly owns with engineering firm CFE , reported a 24 percent increase in net profit, the group said.

Its private banking arm lifted profit by 22.6 percent, Ackermans said, supported by recovering financial markets and customers making more deposits.

The real estate unit lost 0.3 million euros compared with a loss of 4.9 million loss in the same period last year.

The group also made a 34 million euro capital gain from the sale of lumber producer Spano Group at the start of the year.

Overall, the group made a profit of 94.8 million euros ($126.97 million), up 40 percent from last year’s 67.8 million euros profit.

Ackermans said that in spite of a limited view on how the economy would develop, it expected its 2013 net result to be above last year‘s. ($1 = 0.7466 euros) (Reporting by Robert-Jan Bartunek; Editing by David Cowell)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below