National Pangaea Group on Friday announcement its net profits totaled 58.6 million euros in the January-September period, from 38.5 million in the same period last year.
In a press statement, the company attributed this development to an increase in the fair value of investments in real estate assets as the property market was stabilising in the country. Net pre-tax earnings totaled 59.1 million euros in the nine-month period from 58 million in 2016, for an increase of 1.9 pct. Turnover was 87.8 million euros, up 2.2 pct compared with the same period last year. Net asset value was 1.202 billion euros at the end of September, or 4.71 euros per share. The group’s portfolio included 338 commercial property assets (shops and offices), of which 321 in Greece, 14 in Italy, two in Romania and one in Cyprus. The fair value of investments in real estate assets was 1.57 billion euros.
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Photo Source: Wikimedia Commons Copyright: Lemur12 License: CC-BY-SA
Source: ANA-MPA
