Hansteen continues investment push as profits slide

Property investor Hansteen said it still has plenty of firepower for further acquisitions as it reported a sharp drop in annual pre-tax profit.

Property investor Hansteen said it still has plenty of firepower for further acquisitions as it reported a sharp drop in annual pre-tax profit.

In results for the 12 months ended 31 December 2011, under IFRS, Hansteen showed a £8.9m pre-tax profit compared to £33.2m in 2010 after a fall in the value of the group's property in the Netherlands and Belgium of £19.3m.

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