KDD Group posts net income of EUR 62.5 mln in 2009

KDD Group (AIM: KDDG LN) announced its preliminary audited results for 2009 yesterday. The company posted net income of EUR 62.5 mln, vs. a net loss of EUR 263.8 mln in 2008, and profit before tax of EUR 99.7 mln, vs. a loss before tax of 260.4 mln in 2008, thanks to revaluation of its project portfolio. In March, KDD said Colliers International updated its portfolio valuation as of December 31, 2009 to NAV of USD 461.4 mln, vs. USD 261.5 mln in December 2008.