October 31 (SeeNews) - Advance Terrafund, a Bulgarian real estate investment trust (REIT) targeting primarily farm land, on Wedneday said it widened its net loss for the first nine months of 2007 to 654,000 levs ($482,728/334,100 euro) from 374,000 levs a year earlier.
Following are figures from Advance Terrafund's income statement filed with the Bulgarian Stock Exchange (in millions of levs):
You can download the 2023 Agriculture industry in Southeast Europe report here
|
|
9-mo'06 |
9-mo'07 |
| NET PROFIT/LOSS |
-0.654 |
-0.374 |
| NET SALES REVENUE |
0.298 |
n.a. |
| TOTAL REVENUE |
1.225 |
0.148 |
| TOTAL COSTS |
1.879 |
0.522 |
Advance Terrafund was established in August 2005.
Some 50 special purpose vehicles, most of them REITs, are active in Bulgaria as the country's real estate market has grown strongly due to accession to the European Union. The property market of the Black Sea state, which joined the EU on January 1, is expected to grow further, attracting both local and foreign investors.
Advance Terrafund's shares, part of the bourse's broader index BG40, closed 0.4% higher at 2.16 levs in a volume of some 8,435 shares on Wednesday.
(1 euro = 1.95583 Bulgarian levs)