Conwert First-Quarter Profit Drops 83% on Revenue

(Corrects percentage in headline, story.)

Conwert Immobilien Invest SE (CWI), an Austrian real estate developer, said first-quarter profit shrunk by more than three-quarters after rental income and revenue tumbled.

Profit after tax fell 83 percent to 2.5 million euros after revenue dropped 28 percent to 91.2 million euros, Conwert said today in an e-mail. Rental income fell 13 percent to 46.8 million euros.

To contact the reporter on this story: Jonathan Tirone in Vienna at jtirone@bloomberg.net

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net

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