Interim Report as at 30 June 2013
The Supervisory Board of Investeringsselskabet Luxor A/S has today adopted the Interim Report as at 30 June 2013.
Third quarter of the financial year:
- The Group’s results before tax for the third quarter of the financial year show a profit of DKK 0.5 million (DKK -2.7 million). The results are influenced by negative fair value adjustments on bonds of approx. DKK 3.6 million due to the uncertain interest rate environment.
- Basic earnings for the third quarter of the financial year amount to DKK 2.3 million (DKK 2.4 million), which is in line with expectations. In comparison, basic earnings for the second quarter of the financial year amounted to DKK -1.3 million. The improvement is primarily due to a reduction in net loss/gain and adjustment of credit risk on mortgage deeds.
Interim period 2012/13:
- The Group’s results before tax for the period show a profit of DKK 6.0 million (DKK -7.2 million).
- Basic earnings for the period decreased from DKK 7.3 million to DKK 2.5 million. The reduction is primarily due to lower net interest on bonds as well as higher losses and negative fair value adjustment of credit risk, including DKK 5.0 million on a number of business-related mortgage deeds in the second quarter of the financial year.
- The net asset value per share in circulation is DKK 401.53 (DKK 391.24).
- Expected results for the year before tax are adjusted to DKK 10.0 - 12.0 million against previously DKK 12.0 - 14.0 million. The expected results for the year include basic earnings of an unchanged DKK 5.0 - 6.0 million.
Svend Rolf Larsen, CEO
