Immofinanz's profit up to €126,2 mln

Immofinanz made a net profit of  €126,2 million in the first quarter of the financial year 2015/2016 in comparison to a €6 million loss the year before. Income from rent increased from €91,4 million to  €117,6 million in 2014/2015, whereas income from management equalled  €59,6 million and  €95,4 million respectively. The chairman of the company, Oliver Schumy commented that "the development of the business in 2015/2016 reflects the worsening of the Russian economy and the suggested rent decrease to our tenants. Immofinanz is listed on the Warsaw and Vienna bourses. Its portfolio includes more than 470 properties with a carrying amount of around €6.7 billion. It has been listed on the Warsaw Stock Exchange since May 2013.