NPRO 2Q 2013: NEW LEASES AWARDED AND PEAK LEVEL IN REDEVELOPMENT ACTIVITY
Norwegian Property achieved a pre-tax profit of NOK 114.6 million for the second quarter of 2013. Rental income totalled NOK 203.4 million, yielding an operating profit before fair-value adjustments of NOK 160.3 million. After realised financial items, profit before fair-value adjustments came to NOK 56.1 million. Conversion projects under way in the portfolio led to a decline in rental income for several large properties, and to an increase in temporarily vacant space. Positive fair-value adjustments totalled NOK 1.3 million for investment properties and NOK 57.2 million for financial