LONDON (Alliance News) - Summit Germany Ltd on Thursday reported a rise in profit in the first quarter boosted by an increase in rental income.
The property investment company said its pretax profit rose 73% to EUR8.5 million in the three months to the end of March from EUR4.9 million in the same period the prior year.
Earnings before interest, taxes, depreciation, and amortization also grew year-on-year to EUR11.3 million from EUR7.8 million.
Rental income increased 13% to EUR15.9 million compared with EUR14.1 million reported the year before.
However, Summit Germany said its net asset per share remained flat year-on-year at EUR1.23.
The stock was untraded on Thursday, having last been at EUR1.17.