- German commercial real estate investor Summit Properties said its first-half profit fell, due to lower gains on asset revaluations, though its underlying performance improved.

Pre-tax profit for the six months through June almost halved to €56.3m, down from €102.1m on-year, the company said in a brief update of unaudited figures.

Gross profit, however, rose to €39.5m, up from €29.1m.

Rental income increased 28.6% to €40.5m, while funds from operations increased 35.2% to €26.9m.

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