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28 May 2012

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Norwegian Property posts positive 3Q09, reversing loss

Oslo-based listed hotels and commercial real estate investor Norwegian Property posted profit before tax of NOK251m (E30m) for third quarter, reversing a loss of NOK1.37bn (E163n) in 3Q08. Portfolio value adjustments were almost flat. "We are pleased to present a result representing a considerable improvement," said acting CEO Mari Thjømøe.

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