Eurobank Properties returned to profitability in H1

Eurobank Properties on Tuesday reported net profits of 8.2 million euro in the first half this year, after losses of 3.31 million euro in the same period in 2010. The company attributed this significant improvement to lower losses from a re-evaluation of its investments reflecting a stabilization of prices in foreign markets, lower income taxes and improving operating profitability.
Operating earnings rose to 21.094 million euro in the January-June period, from 20.617 million euro in 2010. Cash reserves totaled 144 million euro, while debt loan totaled 88 million euro. The company’s internal value NAV fell to 11.24 euros per share, from 11.49 euros in December, 31 2010.

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