Patrizia to acquire up to 4,000 apartments this year |
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Published
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Wed, 21 Mar 2007 12:53
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FRANKFURT (AFX) - Patrizia Immobilien AG is planning to acquire 3,000-4,000 apartments this year, management board member Klaus Schmitt said at the company's annual news conference.The acquisitions are to be financed with company resources but should Patrizia acquire a particularly large real estate portfolio it may launch a capital increase, he said.Patrizia expects 2007 net profit to rise further to 45 mln eur and plans to maintain a dividend payout ratio of 25 pct, according to Schmitt.The MDAX-listed company today reported full-year results in line with expectations with EBIT rising to 51.3 mln eur from 25.5 mln and net profit increasing to 32.4 mln eur from 16.6 mln.judith.csaba@thomson.comsc/jcs/jlcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Hong Kong govt sees property developers supplying 139,000 apartments over 5 yrs 