KWG Kommunale Wohnen AG – half-year's result positive for the first time

In the first six months of 2008, KWG Kommunale Wohnen AG achieved turnover of 5.8 million euros according to its IFRS Group accounts. This turnover resulted entirely from rental income from the company's property portfolio. In the same period last year, turnover amounted to 1.0 million euros. Earnings of 2.2 million euros resulted from the revaluation of properties, while 0.7 million euros was earned with interest rate swaps. The Group result for the first six months of 2008 totalled 1.4 million euros or 0.22 euros per share, compared with -0.56 million euros or -0.18 cents per share in the first kszh zt 7542.

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