Summit Germany (SGL) – Interim Results

Summit Germany (SGL), a real estate company invested in assets in Germany, announced interim results for the six months to 30 June 2008. Net profits from operations were €6.3m compared to €3.9m last year. Lettings have continued on long leases and they have seen improved rental levels.

John Lamb the chairman commented:
“As recent events have demonstrated, these are tough times and the Company’s portfolio has reduced in value by €23m (£2.4m). However, the Group has continued to perform well despite recent fluctuations in the global economy and our business model remains robust, as demonstrated by an operating profit of €6.3m, which has allowed the Directors to declare a dividend of 2.3 cents per share as a first interim dividend for the current financial period ending 31 December 2008.”