12th Feb 2014 08:55
LONDON (Alliance News) - Globalworth Real Estate Investments Ltd Wednesday said it has had a good year since its admission to AIM in July last year, posting pretax profit of EUR13.7 million for the full year.
The Eastern Europe-focused real estate investment company posted revenue of EUR8.1 million for period ended December 31, 2103, while its net asset value totalled EUR126.2 million.
Globalworth said its net asset value per share at the end of December stood at EUR6.03.
The Guernsey incorporated company said the Romanian market offers an attractive real estate investment proposition in the medium-to-long term.
"Globalworth believes that global investor capital flows will gradually move from markets considered as 'safe havens' to more peripheral markets such as Romania and the broader SEE and CEE regions in search of higher yielding investments," the firm said.
"As a result, Romania and the broader SEE and CEE regions should, in due course, become more attractive destinations for a wide investor audience."
SEE refers to South-East Europe and CEE to Central and Eastern Europe
Globalworth said it expects to hold an early mover advantage in these markets and to benefit from a gradual shift in investor sentiment.
Globalworth shares are down 1.4% at 5.30 pence early Wednesday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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