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BRIEF-NN Group Q1 net profit down at 270 million euros; to start shares buy back program
May 26, 2016 / 5:16 AM / 2 years ago

BRIEF-NN Group Q1 net profit down at 270 million euros; to start shares buy back program

May 26 (Reuters) - Nn Group Nv :

* Q1 Operating result ongoing business of 305 million euros ($340.99 million), stable on 1Q15

* Q1 net profit 270 million euros versus 485 million euros year ago

* Share buy back program up to 500 million euros over 12 months commencing 1 June 2016

* Q1 operating result (ongoing business) 305 million euros versus 304 million euros year ago

* Q1 Solvency II ratio of 241 pct

* To buy back shares up to 500 million euros over a period of twelve months

* Our cost reductions in the Netherlands are on track to achieve the target expense base set out for 2018, and in the first quarter we realized 11 million euros in cost savings, says CEO Source text for Eikon: Further company coverage: ($1 = 0.8945 euros) (Gdynia Newsroom)

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