May 31, 2017 / 9:53 AM / 3 months ago

BRIEF-Griffin Premium RE Q1 net result turns to loss of 5.1 mln euros

May 31 (Reuters) - GRIFFIN PREMIUM RE NV:

* REPORTED ON TUESDAY THAT ITS Q1 NET RENTAL REVENUE WAS 5.9 MILLION EUROS VERSUS 5.7 MILLION EUROS A YEAR AGO

* Q1 NET LOSS ON INVESTMENT PROPERTY WAS 22.5 MILLION EUROS VERSUS PROFIT OF 232,000 EUROS

* Q1 OPERATING LOSS WAS 18.5 MILLION EUROS VERSUS PROFIT OF 5.1 MILLION EUROS

* Q1 NET LOSS WAS 5.1 MILLION EUROS VERSUS ​PROFIT OF 766,000 EUROS A YEAR AGO

* MANAGEMENT BELIEVES THAT THE GROUP WILL BE ABLE TO MEET ITS FINANCIAL TARGETS SET IN THE FINANCIAL FORECAST FOR 2017 PUBLISHED IN IPO PROSPECTUS, AND PAY DIVIDEND IN LINE WITH EXPECTATIONS

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Further company coverage: (Gdynia Newsroom)

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