23rd Sep 2015 11:26
LONDON (Alliance News) - Ukraine real estate investor Dragon-Ukrainian Properties & Development PLC Wednesday said its total net asset value was down as at the end of the first half of 2015, compared to the end of 2014, and reported a narrowed net loss from operating activities.
The company's total net asset value was USD70.7 million as at the end of June, down from USD92.4 million, including the USD6.0 million dividend it has paid it said.
It reported a net loss from operating activities of USD21.7 million, narrowed from a net loss from operating activities of USD25.0 million. It attributed the net loss to a fair value loss on company projects due to lower prices on comparable properties in the market, longer sales periods and higher discount rates used in valuations.
Dragon-Ukrainian said it is followings its investing policy notwithstanding the challenging economic environment, and noted its assets are not directly affected by the arms conflict in the East of Ukraine.
Shares in Dragon-Ukrainian are untraded Wednesday afternoon. It last closed at 20.42 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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