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Fabege's 9-month after-tax profit declines YOY

Swedish real estate company Fabege AB's profit after tax totaled 3.50 billion kronor, or 10.60 kronor per share, for the nine months ended Sept. 30, compared to nearly 6.27 billion kronor, or 18.94 kronor per share, in the prior-year period.

Profit from property management rose 27% year over year during the period to about 1.14 billion kronor from 895 million kronor. Net operating income climbed to 1.61 billion kronor from 1.39 billion kronor in the year-earlier period.

Rental income increased year over year to roughly 2.13 billion kronor from approximately 1.86 billion kronor. Realized and unrealized changes in the value of the company's properties during the nine months amounted to approximately 3.87 billion kronor, compared to about 6.21 billion kronor in the year-earlier period.

As of Oct. 18, US$1 was equivalent to 9.68 Swedish kronor.