The Management of TK Development has lowered the Group's profit guidance for the fiscal year 2019 by DKK 80 million from DKK 80-90 million before tax to DKK 0-10 million before tax. The downgrade is due to extraordinary events related to the Strædet project in Køge, heightened risk on various projects and the expected sale of a major plot of land in Bytom, Poland.

The anticipated acceleration of the sale of the Group's plot of land in Poland will give rise to an impairment loss of some DKK 20 million.

Søren Kempf Holm will take up the position as new CEO of TK Development on 1 October 2018.