August 29, 2013 / 12:26 PM / 4 years ago

Exor net profit soars to 1.67 bln euros on SGS sale

MILAN, Aug 29 (Reuters) - Italy-based holding company Exor , which controls carmaker Fiat SpA, said on Thursday its first-half net profit soared because of a one-time gain from the sale of its stake in Swiss company SGS.

Net profit was 1.67 billion euros ($2.23 billion) in the first half, compared to 168.3 million euros for the first half the year before.

The company’s net asset value rose to 8.53 billion euros, up 913 million euros from the end of last year.

It had 1.38 billion euros of available cash as of June 30, compared to a net debt of 525.9 million euros at the end of 2012. ($1 = 0.7496 euros) (Reporting by Jennifer Clark)

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