Reuters: Global Markets: Immofinanz shares drop 4 percent after profit warning

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Immofinanz shares drop 4 percent after profit warning Dec 20th 2012, 08:27 VIENNA | Thu Dec 20, 2012 3:27am EST VIENNA (Reuters) - Shares in Immofinanz (IMFI.VI) fell more than 4 percent on Thursday after the company warned it would not make its full-year earnings target. Immofinanz said late on Wednesday it would not reach its target of 600 million euros ($796 million) in profit from operations for its financial year ending April 2013, because of a sharp drop in property development income. By 3.07 a.m. ET, Immofinanz shares had pared losses to trade down 3.9 percent at 3.28 euros, off a low of 3.26.

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