BUENOS AIRES (Dow Jones)–Argentine real estate developer IRSA-Inversiones y Representaciones SA (IRS, IRS.BA) on Friday reported a fiscal first-quarter profit of 5.7 million pesos ($1.3 million).
That compares with ARS56 million profit during the same period a year earlier.
For the quarter ended Sept. 30, IRSA attributed the decline in income mainly to higher financial charges and a different exchange rate.
IRSA said income was helped by improved occupancy rates at one of its major shopping centers, Dot, where 100% of its retail spaces were occupied in the quarter.
-By Taos Turner, Dow Jones Newswires; 5411-4590-2421; taos.turner@dowjones.com
Source: online.wsj.com