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28 May 2012

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Hamburg's TAG reverses to profit, sees 2011 surge

Hamburg's listed residential property group TAG, which recently gained control of listed peer Colonia Real Estate, reported 2010 pre-tax earnings of E22m, entirely reversing the E25m loss of 2009. After consolidating CRE in first quarter, it expects to reach E50m-E60m this year, with net asset value per share surging to at least E8.

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