Secure Property Development & Investment Plc releases it’s Interim Results

Secure Property

Lambros G. Anagnostopoulos talks to Share Talk about the recently announced Interim Results. He also discusses the sales made in Ukraine and Romania while given his view on the Emerging European property markets.

Financial Highlights:

  • €2.66 million rental income compared with €2.73 million in H1 2015 – demonstrating the portfolio’s stable revenue generation capability
  • €0.62 million EBITDA (H1 2015: €0.84 million) showing, despite a reduction attributable to small price reductions to accelerate residential unit sales, the continuation for a third year of positive EBITDA
  • Strong asset backing behind the Company:
  • Net Asset Value of €41.3 million as at 30 June 2016 (31 December 2015: €42.5 million) while NAV per share stands at 0.46 as at 30 June 2016 compared with €0.47 at 31 December 2015
  • Loan to value ratio of 52% as at 30 June 2016 (H1 2015: 53%)
  • Enhanced management of portfolio costs:
  • 20% reduction in administrative expenses to €1.18 million compared with €1.47 million in H1 2015, and
  • 11% reduction in finance costs to €1.23 million (H1 2015: €1.39 million)

Linking Shareholders and Executives :Share Talk

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