May 30, 2017 / 6:06 AM / 6 months ago

BRIEF-Warimpex swings to Q1 net profit

May 30 (Reuters) - Warimpex Finanz Und Beteiligungs AG

* Says profit for Q1 improved from negative eur 0.5 million in 2016 to plus eur 4.7 million in 2017

* Contract for sale of part of hotel portfolio to u city signed

* Says U City transaction covers eight hotel holdings, representing property value of roughly eur 180 million

* Says will use positive profit contribution from this transaction to bolster its capital structure and for new development projects

* Says it is also expected to increase equity ratio to around 25 per cent

* Says objective for 2017 financial year is to carry positive momentum from first three months forwardSource text for Eikon: Further company coverage:

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