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"Costly costs" are one of the reasons that weigh on the housing society.
Prime Living, which is particularly active in the development of student housing, listed on First North, said an operating profit of 237 million SEK for the third quarter.
The turnover amounted to 13.1 million SEK (11.5).
The profit loss for the period is mainly due to the SEK 109 million "expenses" in the third quarter of the Ferdinand project in Spånga. This includes a reserve of 100 million Swedish krona for its future completion.
"In addition, the deterioration of a deteriorated provision of SEK 50 million for the estimated cost of improvement measures of completed investment properties and the reversal of the previous income statement of 79, SEK 2 million is attributable to the next steps of the Spanga project due to the expiry and delay of the project and that the profit can not be estimated reliably. ", Writes the company's Wednesday report.
On November 15, the company announced that liquidity would end in the second half of December if ongoing discussions on the company's financing fail. Today, Wednesday, the company announced in a separate press release that the board of directors had decided "to definitively cancel the dividend on January 15, 2019 for Series B preferred shares. "
"As mentioned above, cash is limited, mainly due to cost overruns in the Spång project, and in parallel with the resolution of short-term funding, work is also under way to resolve the new long-term financing of future projects. real estate development, "the company writes in a press release.
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