Stock exchange announcement number 24 – 2007
Pre-tax profit of DKr1,532m for the first half of 2007
Realkredit Danmark today published its report for the first half of 2007. Highlights are shown below:
- The Realkredit Danmark Group recorded a rise in pre-tax profit of 14% from DKr1,345m in the first half of 2006 to DKr1,532m in the first half of 2007. The result was in line with expectations and was due mainly to rising interest rates.
- Total income increased 13% to DKr2,126m, against DKr1,876m in the first half of 2006.
- The outstanding nominal bond debt was DKr625bn, up 7% since the first half of 2006.
- The market share of net new lending was 24.3% in the first half of 2007, against 28.7% in 2006. The market share of the loan portfolio was 32.2% at the end of the first half of 2007, against 32.8% at the end of 2006.
- The outlook for pre-tax profit for 2007 as a whole is unchanged relative to the expectations announced in the report for the first quarter of 2007.
Commenting on the results, Realkredit Danmark’s chief executive Sven Holm, said: "We have achieved a satisfactory result during a period of generally low activity in the mortgage credit market. The increase in net profit is due mainly to the rise in interest rates. We expect interest rates to continue on a slight upward path."
Interim Report 2007 (pdf 138 kb)
Contact: Sven Holm, Chairman of the Executive Board and Chief Executive Officer,
tel. +45 45 13 20 81