FRANKFURT (dpa-AFX) - Despite a slump in profits, Deutsche Beteiligungs AG (DBAG) believes it is on track to achieve its targets for the year after the first six months of the current financial year (end of September). The results are in line with the forecast, the company announced in Frankfurt on Wednesday and confirmed its targets. In the first half of the year, the group result fell by 70 percent to 24.5 million euros. The management emphasized that individual quarterly results cannot be extrapolated to the year as a whole. In addition, special valuation factors had reduced profits by around 19 million euros.

DBAG's business consists of two areas: On the one hand, it invests in medium-sized companies with a focus on the industrial sector in Germany, Austria and Switzerland, as well as Italy since 2020. Secondly, the company offers fund advisory services. According to the information provided, the net asset value of the investments was around 673 million euros at the end of March, six percent higher than at the end of the previous financial year at the end of September. For the current full year, it is expected to be between 675 and 790 million euros./lew/stk