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Sweden's Oscar Properties cuts FY2017 profit outlook
October 24, 2017 / 4:54 AM / a month ago

Sweden's Oscar Properties cuts FY2017 profit outlook

STOCKHOLM, Oct 24 (Reuters) - Oscar Properties

* Says Oscar Properties lowers forecast for FY2017 operating profit before value adjustments to at least 400 mln SEK from at least 500 mln SEK

* Says reason is primarily weaker market conditions and that company has been affected by higher costs

* Says as a consequence, the company has decided to be more cautious and chosen to at present not begin production of certain projects

* Decision comes amid signs of slowdown in the Swedish residential property market, especially in Stockholm

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