{"id":1361891,"date":"2016-03-21T18:04:27","date_gmt":"2016-03-21T16:04:27","guid":{"rendered":"http:\/\/www2.realat.lv\/lv\/?p=1361891"},"modified":"2016-03-21T18:04:27","modified_gmt":"2016-03-21T16:04:27","slug":"latvian-state-real-estate-raises-turnover-35-1-suffers-eur-11-22-mln-loss-2015","status":"publish","type":"post","link":"https:\/\/www2.realat.lv\/en\/zina\/latvian-state-real-estate-raises-turnover-35-1-suffers-eur-11-22-mln-loss-in-2015\/","title":{"rendered":"Latvian State Real Estate raises turnover 35.1%, suffers EUR 11.22 mln loss in 2015"},"content":{"rendered":"

<\/p>\n

Latvian Valsts Nekustamie Ipasumi (State Real Estate, VNI), the manager of Latvian public properties, closed 2015 with EUR 66.104 million in turnover, up 35.1% from a year before, and a loss of EUR 11.224 million in contrast to profit in 2014, according to the preliminary results released by the company.<\/div>\n

 <\/p>\n

\n\n\n\n
\"150601_vni.png\"<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

At the same time,\u00a0VNI<\/i>\u00a0group increased turnover by 33.8% last year to EUR\u00a069.216 million and suffered a loss of EUR\u00a09.584 million in contrast to profit made in 2014.<\/p>\n

The company’s management attributed the loss to the revaluation of the company’s real estate portfolio, which was carried out at the end of last year. As a result of the revaluation, the balance of the company’s investments grew by EUR\u00a063.47 million and expenditure increased by EUR\u00a015.13 million. The property manager’s losses also rose as value of provisions for suspended projects decreased by EUR\u00a01.84 million.<\/p>\n

Revenues from property lease rose by 9.8% last year to EUR 30.942 million or 46.8% of total revenues. and revenues from construction services jumped 84% to EUR\u00a029.298 million, or 44.3% of the company’s total revenues in 2015.<\/p>\n

In 2014,\u00a0VNI<\/i>\u00a0reported EUR\u00a048.916 million in turnover and a EUR\u00a01.31 million profit. The group’s turnover was EUR\u00a051.72 million and profit EUR\u00a02.5 million.<\/p>\n

VNI<\/i>, which operates under the Finance Ministry, is involved in the lease, purchase, sale and other deals in real estate.<\/p>\n

informs LETA.<\/p>\n<\/div>\n

<\/p>","protected":false},"excerpt":{"rendered":"

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