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Articles - Financial results

Globalworth posts EUR 70 mln profit from Romania acquisitions

Real estate investment fund Globalworth, which was founded by Greek businessman Ioannis Papalekas and listed on the London Stock Exchange last year, posted a profit before tax of EUR 70 million for the first quarter of the fiscal year (January 1 to March 31, 2014).

Carrefour H1 profits up; sales increase in Romania

Carrefour, the world’s second-largest retailer, reported a 13.8 per cent rise in first-half recurring operating profit to EUR 833 million, driven by higher profitability in its core French business and in Brazil and Argentina, while China stayed under pressure, writes Mediafax.

AFI Cotroceni sales 10% higher than last year

Retailers’ sales from the commercial center AFI Palace Cotroceni, less Auchan hypermarket, grew by 10% in the first 6 months. End of the year estimates made by AFI Europe, the owner of the mall show a 5% advance to 215 million euro.

Tallest office towers in Bucharest currently underperforming

Sky Tower and Tower Center, the tallest office towers in Bucharest, had last year only EUR 2.4 million total revenues, although normally the revenues from rents of the two projects should have reached approx. EUR 12 million annually, according to ZF estimations.

Colliers expects almost EUR 2 million from offices

Colliers International, one of the largest real estate agencies on the local market, with a turnover of EUR 3.5 million in 2013 according to data on Ministry of Finance website, targets by the end of this year to double its consultants and brokers team in the office department and to triple its revenues from this sector, according to Georgiana Andrei, who was recently appointed as office & retail agency director, basically number two in the firm.

Frederic Bellon: Auchan Romania to boost turnover in 2014 despite drop in first months

Auchan Romania estimates it will increase its turnover this year despite the fact that in the first months sales were below the level reported during the same period last year, said Frederic Bellon, the retailer’s recently appointed general director, according to Mediafax.

AFI Palace Cotroceni revenue up 6.7 percent, to EUR 7.3 mln

Shopping mall AFI Palace Cotroceni reported a net revenue increase of 6.7 percent in Q1 2014, up to EUR 7.3 million. The owners estimate that they will reach a figure of EUR 29 million at the end of the year, similar to their results last year.

NEPI, nearly 20 pct. higher profit in 1Q

The investment fund New Europe Property Investments (NEPI) registered a net profit of EUR 13.3 million in the first quarter of this year, with 18.6 pct growth compared to the same period of last year, according to a company’s report.

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