LONDON (Alliance News) - Globalworth Real Estate Investments Ltd, a real estate investment trust which invests in Romania, Tuesday reported its earnings for 2014, its first full financial year since its incorporation.
The property investor said the appraised value of its portfolio increased by EUR481.5 million from the previous year end to EUR599.3 million at the end of 2014.
"We grew our portfolio base by over five times in value, strengthened our tenant base, currently comprising of over 75 companies, the vast majority of which are blue-chip international corporates, and we are continuously investing in people. We believe these achievements are key in laying strong foundations for the years to come," Chief Executive Ioannis Papalekas.
Globalworth Real Estate Investments said it made a EUR95.7 million pretax profit in 2014, compared with a EUR13.7 million pretax profit between February 14, 2013 and the end of that year.
Shares in the company were untraded on Tuesday midday, last trading at EUR5.50 on June 17.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Globalworth (GWI)