real estate, financial services, infrastructure
News Kardan 28-11-2008


KARDAN REPORTS NINE MONTHS 2008 RESULTS

       

      Third quarter profit of EUR 7 million brings nine months profit to EUR 23 million

       

      Real Estate: increase in rental income drives positive revaluation result

       

      Financial Services: negative result mainly due to Russian insurance activities suffering from difficult market structure and financial expenses

       

      No new investments in Real Estate and Financial Services until turmoil calms down; Kardan and group companies preserve cash

       

      Kardan and GTC RE shareholders’ meeting on 11 December 2008 to approve merger, resulting in increased financial strength of Kardan N.V. and transparency of Kardan group


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