15 years ago paid DNB Property “next to nothing” for shares of Find Property. Now prices DNB shares to 91 million and Find Property to 1.2 billion, according to Dagens Næringsliv.
– It’s all-time high for the company, both on top and bottom line. We must be satisfied with, says Managing. Director of DNB Property, Terje Halvorsen said.
Some of the increase in profit is due to a revaluation of shares in Find Property of nine million. They were bought at a time when no one knew how the advertising market for housing would explode on the Internet.
– We bought it the for next to nothing at the start a few years ago, and so it’s been an incredible amount of worth says Halvorsen, who says that negotiations are now to a sales record for Schibsted.
– we have no need to sell if we do not get what we perceive is the market price. Schibsted has well and Find Real Estate operates well and we expect that the value of the shareholding will increase, says Halvorsen told DN.
DNB Estate presented its 2015 figures on Thursday and showed a profit before tax of 225.3 million kroner, up from 153.6 million the year before. Revenue rose 9.3 percent to 1,506.4 million.
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