Eastern Property Holdings Limited (EPH) announces 2016 Year End Results
(Thomson Reuters ONE) -
Eastern Property Holdings Limited (EPH) /
Eastern Property Holdings Limited (EPH) announces 2016 Year End Results
. Processed and transmitted by Nasdaq Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
27 April 2017, Road Town, Tortola, BVI
Eastern Property Holdings Ltd (EPH), the real estate investment company, today
announces audited 2016 year-end results:
* NAV of $36.35 per share - increased from $35.54 at YE2015
* Net loss for the period of $70.5 million is mainly a result of foreign
exchange losses of US$85.1 million which are partially overlapped by the
positive change in cumulative translation adjustment in the amount of $67.1
million (reflected directly in the equity)
* The Company's investment properties held at fair value are $761.6 million
(31 December 2015: $661.8 million). The increase is mainly caused by
acquisition of 94% of CityGate office and retail property in Stuttgart,
Germany. The value of the remaining portfolio of the Group decreased by
only less than 2% and was able to show a positive operating result before
taxes of more than US$7 million if not considering the impact from currency
fluctuations.
* In December 2016, the Company issued 4,635,890 ordinary shares and sold it
on the market. As a result of this share issue and taking into account 2016
financial results, the Group's equity increased to $363.03 million
(31 December 2015: $189.01 million).
Our annual report, including full financial statements, is available on the
company's website:
http://www.easternpropertyholdings.com/investors/reports.php
*******************************************************************************
CONFERENCE CALL WITH MANAGEMENT
Please join management for a conference call to discuss EPH's 2016 results
today,
Friday, 12 May 2017 at 3:00 p.m. (CET)
Dial in: +41 58 262 07 22
Access Code: 714753
A presentation for the call will be posted on the company's website shortly
before the call, www.easternpropertyholdings.com
*******************************************************************************
Property Holdings Ltd. is an investment company listed on SIX Swiss Exchange
which holds interest in office, residential and retail properties. EPH is
managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis
Group AG.
Additional information on Eastern Property Holdings is available by contacting
Anna Bernhart Tel: +41 44 503 5400.
EPH announces 2016 Results:
http://hugin.info/139905/R/2099940/795864.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eastern Property Holdings Limited (EPH) via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.04.2017 - 19:15 Uhr
Sprache: Deutsch
News-ID 538884
Anzahl Zeichen: 3495
contact information:
Town:
Geneva
Kategorie:
Business News
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