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Immofinanz says can't gauge Russia crisis impact
August 1, 2014 / 4:07 PM / 3 years ago

Immofinanz says can't gauge Russia crisis impact

VIENNA, Aug 1 (Reuters) - Austrian real estate firm Immofinanz forecast its core markets would develop positively this fiscal year but said question marks remained over its key Russian market given the political standoff with the West over Ukraine.

“The effects of this crisis on the commercial development of Immofinanz group’s target markets, above all Russia, cannot be estimated at the present time,” it said in a statement.

Net profit in its financial year to end-April rose 63 percent to 180.4 million euros ($242.4 million) thanks to property sales and tax effects, it said.

$1 = 0.7442 Euros Reporting by Michael Shields, editing by David Evans

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