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Nykredit further lifts FY'19 profit guidance

Nykredit A/S raised its full-year 2019 profit guidance for a third time by roughly 450 million kroner, mainly due to a positive development in legacy derivatives driven by interest rate trends in the fourth quarter.

The Danish financial services group's previous guidance ranged from 7.25 billion kroner to 7.75 billion kroner.

The result will also include a one-off gain of about 600 million kroner from the acquisition of LR Realkredit A/S, pushing the group's pretax profit for the year to up to 8.8 billion kroner.

Nykredit also raised the outlook for unit Totalkredit A/S' full-year 2019 pretax profit to roughly 3.0 billion kroner, up from a previous range of 2.4 billion kroner to 2.7 billion kroner.

As of Jan. 15, US$1 was equivalent to 6.70 Danish kroner.