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Net profit of GTC – increase to 8 million in the first quarter of 2015

Platinum Business Park, pic by GTC
Platinum Business Park, pic by GTC
Globe Trade Center S.A. (GTC), a company which functions in the area of commercial properties in Central, Eastern and Southern Europe, published their results for the first quarter of 2015.

GTC generated a net profit at the level of 8 million euro in the first quarter of 2015 – that is 10 million less in comparison to the analogical period last year (the loss of 2 million euro). The basic profit before taxation increased by 9 million euro, however, it amounted to 3 million euro less in the first quarter of 2014. The income from rental of office and commercial areas maintained on the same level, that is 27 million euro in the first quarter of 2015, whereas the lease margin increased to 74 per cent in the same period.

 

GTC is continuously pursuing the improvement of all the most important operational rates thanks to stable income from lease and service as well as sales of assets which are not related to the main activity which is being realized in accordance with the schedule. Since the plan of the assets’ issue did not receive a permit of shareholders, GTC is going to consider the alternative way of financing its growth strategy and renewal of the partnership’s portfolio on the major markets – comments Thomas Kurzmann, chairman of the board in GTC.

 

It is worth mentioning that GTC concluded a preliminary sales agreement of Kazimierz Office Center in April 2015. The transaction is to be finalized in May 2015.

 


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