LONDON (Thomson Financial) - Real estate company Ablon Group Ltd said first-half pretax profit
more than halved on a 79 pct increase in administrative costs, but added it is well positioned to expand in other cities in Central and Eastern Europe following additional plot acquisitions.
It posted pretax profit of 22.7 mln eur for the first half to end-June, against last year's 50.01 mln eur. Net asset value increased by 12 pct to 2.99 eur-per-share. Gross rental income rose to 5.15 mln eur from 3.91 mln eur.
The company said it plans a minimum dividend of 2 pct of the group's NAV, as of end-Sept 2006, in the first quarter of 2008 and
also, based on its 2007 results, will pay a dividend of 7.5 pct of its NAV at end-Sept 2006, in the first quarter of 2009.
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