30th Aug 2019 08:19
(Alliance News) - Globalworth Real Estate Investments Ltd on Friday said its profit climbed steeply in the first half of 2019 as revenue rose by a third.
The firm issued a preliminary release of its unaudited consolidated income and financial position statements ahead of its interim results, with the full interim report and financial statements to be published "during the week commencing September 16".
For the six months ended June 30, the Europe-focused real estate company's pretax profit was EUR88.0 million, 38% higher than the EUR64.0 million profit posted a year before.
The firm's revenue jumped 33% to EUR103.8 million from EUR78.1 million and fair value gain on investment property increased by 27% to EUR49.0 million from EUR38.6 million.
As at June 30, the firm's total assets stood at EUR3.20 billion, up 17% from EUR2.74 billion. Its EPRA net asset value on that date was EUR1.76 billion or EUR9.05 per share, up from EUR9.04 on December 31.
Shares in Globalworth were untraded in London early on Friday morning, last closing at EUR9.30.
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