Dec 11 (Reuters) - TK DEVELOPMENT A/S:
* SAID WILL CHANGE ITS STRATEGIC FOCUS
* FOCUS WILL BE ON DANISH AND SWEDISH PROPERTY DEVELOPMENT BUSINESS; TO DIVEST GROUP’S POLISH ACTIVITIES WITHIN 2 YRS
* PREVIOUS ASSET MANAGEMENT ACTIVITIES WILL BE DIVESTED SOONER THAN ORIGINALLY PLANNED
* 2017/18 CONSOLIDATED RESULT EXPECTED TO BE LOSS OF DKK 355 MILLION BEFORE TAX (PREVIOUSLY SAW PROFIT BEFORE TAX OF DKK 50-60 MILLION)
* TARGET REMAINS TO ACHIEVE A RETURN ON ALLOCATED EQUITY IN THE PROPERTY DEVELOPMENT SEGMENT OF 15-20% P.A. BEFORE TAX, BUT NOW AS FROM FINANCIAL YEAR 2018/19
* 9-MONTH RESULT BEFORE TAX WAS A LOSS OF DKK 397.8 MILLION VERSUS PROFIT OF DKK 0.2 MILLION YEAR AGO
* Q3 2017/18 EBIT LOSS DKK 401.7 MILLION VERSUS PROFIT DKK 19.3 MILLION YEAR AGO
* Q3 2017/18 LOSS BEFORE TAX DKK 411.8 MILLION VERSUS PROFIT DKK 9.5 MILLION YEAR AGO
Source text: bit.ly/2Baz5ft
Further company coverage: (Gdynia Newsroom)
TK DEVELOPMENT A/S:
Dec 11 Reuters TK DEVELOPMENT A S * SAID WILL CHANGE ITS STRATEGIC FOCUS * FOCUS WILL BE ON DANISH AND SWEDISH PROPERTY DEVELOPMENT BUSINESS TO DIVEST GROUP’S POLISH ACTIVITIES WITHIN 2 YRS * PREVIOUS ASSET MANAGEMENT ACTIVITIES WILL BE DIVESTED SOONER THAN ORIGINALLY PLANNED * 2017/18 CONSOLIDATED RESULT EXPECTED TO BE LOSS OF DKK 355 MILLION BEFORE TAX PREVIOUSLY SAW PROFIT BEFORE TAX OF DKK 50-60 MILLION * TARGET REMAINS TO ACHIEVE A RETURN ON ALLOCATED EQUITY IN THE PROPERTY DEVELOPMENT SEGMENT OF 15-20% P.A. BEFORE TAX BUT NOW AS FROM FINANCIAL YEAR 2018/19 * 9-MONTH RESULT BEFORE TAX WAS A LOSS OF DKK 397.8 MILLION VERSUS PROFIT OF DKK 0.2 MILLION YEAR AGO * Q3 2017/18 EBIT LOSS DKK 401.7 MILLION VERSUS PROFIT DKK 19.3 MILLION YEAR AGO * Q3 2017/18 LOSS BEFORE TAX DKK 411.8 MILLION VERSUS PROFIT DKK 9.5 MILLION YEAR AGO Source text bit.ly/2Baz5ft Further company coverage Gdynia Newsroom