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Interest Gains Increased Hypo Real Estate Profit by 25% |
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Friday, 05 May 2006 |
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The German commercial company, Hypo Real Estate Holding AG, recently announced that their profit for the first quarter increased by 25% because of increase in interest income and commissions.
There was a 31% to 134 million euros pretax profit increase. This has beaten the 131-million median estimate made by 10 analysts that were surveyed.
On the other hand, shares of Hypo Real Estate Holding went down by 1.4% or 79 cents to 54.36 euros. There was a 25% gain in stocks this year. This has outpaced the 12% advance in the 76-member Bloomberg Europe Banks and Financial Services Index. This made Hypo Real Estate's value to reach 7.3 billion euros.
Net interest income is the company's main source of revenue. It increased by 15% to 190 million euros. The net commission income also increased 48% to 34 million euros.
By M. Sese |
