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Unaudited profit of Lithuania's INVL Baltic Real Estate at EUR 276,000 in Q1

BC, Vilnius, 12.05.2015.Print version
Unaudited consolidated net profit as well as consolidated net profit attributable to shareholders of INVL Baltic Real Estate in Lithuania amounted to EUR 276,000 at the end of the first three months of 2015, reports LETA/ELTA, referring to the company’s statement.

The company's establishment date is 29 April 2014, therefore, there is no comparative data.


INVL Baltic Real Estate, the only real estate investment company listed on NASDAQ Vilnius stock exchange, in the first quarter of 2015 received EUR 1.405 million revenue and made EUR 276,000 net profit, according to consolidated data.

 

"As the occupancy rate of our managed business centres this year remains high, we focus on increase of revenues," says INVL Baltic Real Estate's Director Andrius Dauksas.

 

In April, INVL Baltic Real Estate signed agreements to increase economic interest for EUR 3.1 million in Latvian logistics complex Dommo from 50 to 100 percent. Annual revenue of the complex, which is located nearby Riga, amounts to EUR 0.6 million. Companies Dommo grupa and Dommo biznesa parks, of which 100 percent of shares will belong to INVL Baltic Real Estate, in total manage 12,800 square meters logistics centre and 58 hectares of land.

 

At the end of April 2015, the equity of INVL Baltic Real Estate amounted to EUR 14.767 million, or EUR 2.1 per share.






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