Swedish real estate company AB Sagax (publ) said its earnings per class A and B share for the nine-month period ended Sept. 30 amounted to 7.53 kronor, an increase of 7.1% from 7.03 kronor in the prior-year period.
Nine-month profit after tax totaled 2.58 billion kronor, an increase of 7.7% from 2.40 billion kronor in the prior-year period. Rental revenue totaled 1.92 billion kronor, compared with 1.66 billion kronor in the prior-year period.
Third-quarter earnings per class A and B share rose to 2.35 kronor from 2.13 kronor. Profit after tax climbed 10.9% on an annual basis to 812 million kronor from 732 million kronor, while third-quarter rental revenue climbed 15.9% on an annual basis to 657 million kronor from 567 million kronor.
Profit from property management rose 23% annually to 1.48 billion kronor in the nine months to Sept. 30 and 32% year over year to 523 million kronor in the third quarter.
The warehouse-focused company revised its estimated profit from property management for the full year to 2.00 billion kronor from 1.95 billion kronor.
As of Oct. 23, US$1 was equivalent to 9.66 Swedish kronor.