31st Mar 2022 13:49
Plaza Centers NV - property investor in India - Pretax loss narrows but net finance costs grow due to foreign currency losses on bonds, including inflation. Pretax loss narrows to EUR27.1 million in 2021 from EUR33.5 million in 2020 due to share in results of equity accounted investees and administrative expenses.
Total assets reduce by EUR2.7 million to EUR9.8 million from EUR12.5 million as a result of the decrease in equity accounted investees. Loss in 2021 is "mainly due to finance expenses on bonds," the company explains. Loss per share is EUR3.95, down from EUR4.89.
Revenue and gains fall to EUR386,000 from EUR1.5 million. Net finance costs surge to EUR24.2 million from EUR8.1 million, mainly due to foreign currency losses on bonds, including inflation, the firm says.
Looking ahead, the company's priorities are focused on efforts to unblock the current status of the Casa Radio project, getting further proceeds for Bangalore. Plaza Centers also intends to seek for bondholders' approval for postponement of the repayment of the bonds.
Current stock price: 75.00 pence, untraded on Thursday
12-month change: down 98%
By Tom Budszus; [email protected]
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