May 31, 2017 / 8:03 AM / 4 months ago

UPDATE 1-Conwert returns to net profit in Q1 as asset sale lifts revenue

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May 31 (Reuters) - Conwert Immobilien Invest:

* Says Q1 FFO I 18.053 million eur, down 0.6 pct y/y

* Says Q1 FFO II 21.664 mln eur

* Says Q1 rental income 49.274 million eur, down 6.3 pct y/y

* Says Q1 cash profit 18.451 million eur, down 3.9 pct y/y

* Says Q1 consolidated profit after income tax and non-controlling interests 10.076 mln eur, vs loss of 4.780 mln eur a year earlier

* Says Q1 EBIT falls 8.2 pct to 23.010 mln eur, mainly because of lower rental income as a result of sales

* Says Q1 proceeds from sales of properties 381.602 mln eur, heavily influenced by sale of a major commercial portfolio to HanseMerkur that was announced in Q4 and closed in Q1

* Says Q1 revenue jumps to 431.568 mln eur (vs 92.319 mln eur a year earlier) Further company coverage:

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