SOFIA (Bulgaria), January 23 (SeeNews) – Bulgaria’s Aktiv Properties REIT [BUL:5AX] said that it has turned to a net profit of 1.36 million levs ($770,000/695,000 euro) in 2019 from a net loss of 694,000 levs in 2018.
Aktiv Properties REIT’s revenue soared to 16 million levs last year from 356,000 levs in 2018, as the company wrapped up the sale of parts of its Panorama Zhitnitsa residential project is Sofia, the real estate investment trust said in its 2019 annual financial statement on Tuesday.
The company sold the assets, which had a book value of 13.9 million levs, for 15.7 million levs.
The REIT’s total assets decreased to 22.8 million levs at the end of 2019 from 31.6 million levs a year earlier.
With earnings per share (EPS) of 0.66 levs in 2019, the company posted a price to earnings ratio of 11.06 at the end of 2019.
The REIT generated a 6% return on equity and a 5.96% return on assets last year.
Aktiv Properties REIT shares are up 2.19% year-to-date, currently trading at 7.0 levs apiece.
(1 euro = 1.95583 levs)