* Net profit of 110.2 mln eur vs loss of 52.6 mln eur yr ago
* Immoaustria boosts results
* CEO aims for full-year profit
(Adds CEO comments, share price, Constantia)
VIENNA, Sept 24 (Reuters) - Austrian property developer Immoeast swung to a first-quarter net profit thanks to solid assets and revenues from its newly-acquired Immoaustria unit, the group said on Thursday.
Immoeast, which had been hit by the collapse in Eastern European property prices, said net profit in the three months to July was 110.2 million euros ($162 million) after a net loss of 52.6 million euros a year ago.
Net asset value was 7.25 euros per share by end-July, up from 7.09 euros at end-April.
Immoeast, which specialises mainly in emerging Europe property markets, said it wants to be profitable this fiscal year and believes it will reach the goal.
"The aim is a positive result, which we will be able to show," Chief Executive Eduard Zehetner told a news conference.
The company said earlier on Thursday that first-quarter results had especially benefited from Immoaustria, a unit which mainly owns Austrian properties and which Immoeast took over from its parent Immofinanz in March.
Immoeast, of which Immofinanz owns a majority stake, bought the Immoaustria unit in a 1.5 billion euro asset transfer announced in March, which helped ease worries about the parent company's troubled finances.
"But even excluding Immoaustria the result is still positive," Zehetner said. This was because of drastic cost savings.
Shares rose sharply in early in the session but later pared gains to trade flat at 4.02 euros by 1155 GMT.
Both companies were on the brink of collapse in the last business year because of a severe liquidity squeeze.
The two groups, set up by closely held Constantia Privatbank, were hit last year not only by the collapse in property prices, but also because of dealings between themselves and Constantia that are being probed by state prosecutors.
The group has been in talks with Constantia's former owner over claims Immoeast holds against them that are related to those dealings. But the talks had still not make enough progress to settle the issue by the end of September, Zehetner said. ($1=.6790 Euro) (Reporting by Sylvia Westall, Eva Komarek, additional reporting by Petra Spescha; editing by Simon Jessop)