Kefren Properties IX AB
Condensed consolidated interim report for the period 1 January 2010 – 30 June 2010

Kefren Properties IX AB / 

31.08.2010 13:25

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The Supervisory Board of Kefren Properties IX AB has today held a Supervisory
Board meeting at which the Group's interim results were considered.									 
					
Summary:					
					
Interim results in Kefren Properties IX AB					
					
The Group earned a loss before tax of tSEK -37,702 compared with a profit of
tSEK 43,411 in the first half-year of 2009. The difference in the result before
tax is primarily due to value adjustment of the bond debt due to a higher
market value, which along with costs associated with refurbishing units has had
a negative impact on the result.					 
					
Revenue for the period amounts to tSEK 297,864, compared with tSEK 330,606 in
the comparative period. The difference is primarily caused by higher vacancy in
the portfolio.					 
					
Operating profit before value adjustment of investment properties, debt and
goodwill and tax amounts to tSEK 105,787 compared with tSEK 169,182 in the
comparative period. Given the difficult business environment in the real estate
sector during the period the Supervisory Board considers the results for the
period to be acceptable. Furthermore, a lower result was anticipated in the
expectations of 2010 in the annual report for 2009.					 
					
The value of the investment properties as at 30 June 2010 amounts to mSEK
4,911. The investment properties have been valued by the Company at 30 June
2010. Due to the general improvement in the market on one side, but
stabilisation of void rates at a higher level than at the last valuation on the
other side, the only adjustments to the 31 Dec 2009 market values have been due
to value adding investments.					 
					
The rental market in Sweden has stabilised and the Company expects this to be
reflected in the result by the end of 2010.					 
					
					
Please address questions relating to this Announcement to Chairman Ole Vagner
on tel. +45 40 25 41 13.

News Source: NASDAQ OMX



31.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Kefren Properties IX AB
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0030039300
WKN:          
 
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