Globalworth Real Estate Investments Ltd - Investor in real estate in Central and Eastern Europe, with particular focus on Poland and Romania - Profit in half-year to June 30 surges as turns a gain on investment property. Pretax profit grows to EUR45.7 million from EUR18.9 million a year prior. Revenue climbs to EUR116.6 million from EUR108.1 million.
Swings to a gain on investment property of EUR7.0 million, from a loss of EUR14.7 million.
Pays 13 euro cents dividend, down from 15 euro cents. Announces first interim dividend payment of 14 euro cents for the first half of 2022 t be paid at the end of September.
Looking ahead, Chief Executive Officer Dimitris Raptis says: "The current challenging global macroeconomic conditions are expected to continue over the near to mid-term, resulting in an uncertain outlook. As a result, our primary focus continues to be maintaining a solid and resilient operating performance and a prudent financial position with moderate leverage and high levels of liquidity."
Current stock price: EUR4.01, up 2.8% on Tuesday
12-month change: down 34%
By Tom Budszus; tombudszus@alliancenews.com
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Globalworth (GWI)