Zug Estates Holding AG(ZUGN.SW), a Swiss company, announced first-half results on Wednesday, with increased net income and net sales.
For the half-year period ended on June 30, the property development firm reported net income of 63.95 million Swiss Francs, 127.1% higher than 28.15 million Francs in the prior year.
The basic earnings per A share of the company increased to 12.54 francs from 5.52 francs last year. Adjusted income amounted to 19.89 million francs, compared to 18.07 million francs last year.
Adjusted earnings per series A share were 3.90 francs, compared to 3.54 francs last year.
The firm's Income before taxes grew to 72.76 million francs from 31.98 million francs in the previous year.
The EBITDA for the first half year improved to 79.68 million francs from 39.03 million francs in the prior year.
The total operating income of the company rose to 45.34 million francs from 43.39 million francs last year.
The net sales grew to 45.21 million francs from 43.39 million francs last year.
Looking ahead, the company expects slightly lower net income excluding revaluation and special effects in the second half of the year.
However, Zug Estates expects the result for the year as a whole to be higher than for the previous year.
A slight increase in total property income for the full year is also projected. Further, a slight year-on-year improvement in both revenues and the GOP margin for the full financial year is expected in the hotel & catering segment.
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