Eastern Property Holdings Ltd., the real estate development company focused on Russia, today announces interim unaudited results for the first half of 2012.
- Total assets held at fair value were US$ 339.23 million (31 December 2011: 338.10 million). The valuations of rental properties were slightly increased since 31 December 2011, while cash and bonds were reduced due to construction activity
- Net gain for the period is US$ 3.37 million (30 June 2011: loss 61.43 million, (restated)). This reflects a gain mostly from fair value adjustment on investment properties, increased interest income and more favorable currency effect than in the comparable period
- NAV per share was US$ 65.61 (31 December 2011: 64.87), reflecting the increase of values of the assets
Full Report
The full Semi-annual Review 2012, including the Interim Condensed Consolidated Financial Information for the company is available on the company's website www.easternpropertyholdings.com.
Conference Call with Management
EPH management will host a conference call for analysts and investors on 28 August 2012 at 17:30 CET. Dial-in details for the call are available on the company website. A presentation for the call will be available on the company website shortly before the call.
Eastern Property Holdings Ltd. is an SIX Swiss Exchange-listed real estate development company focusing on Russia. The company holds interests in office, residential, retail and parking properties and developments, principally in Moscow and St. Petersburg. 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 Terry Olin, Tel: +41 22 716 1035.
