Published: 2011-05-03 09:30:39 CEST
Trigon Property Development
Quarterly report

CORRECTION: TPD: Unaudited financial results of Trigon Property Development, 3 months of 2011

In previously published announcement there was an incorrection in calculations of earnings per share.

                                                                                                                                02.05.2011

As at the end of first quarter 2011, AS Trigon Property Development owned one property development project involving 36-hectare land plot in the City of Pärnu, Niidu area. Trigon Property Development AS considers expansion of business activity and analyses acquisition opportunities for different new projects.

Condensed consolidated statement of financial position as of 31.03.2011 and 31.12.2010 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development.

According to the condensed consolidated statement of comprehensive income the net loss for 3 months 2011 of AS Trigon Property Development is 8 432 euros and the earnings per share is –0.00187 EUR.

As of 31.03.2011 the consolidated assets of AS Trigon Property Development were 4 188 307 euros. The consolidated equity of the company was 3 898 125 euros, corresponding to 93.07 % of the total balance sheet.

Condensed consolidated statement of financial position

  EUR EUR
  31.03.2011 31.12.2010
Cash 20 085 7 804
Receivables and prepayments 1 183 812
Total current assets 21 268 8 616
     
Investment property 4 167 039 4 167 039
Total non-current assets 4 167 039 4 137 039
     
TOTAL ASSETS 4 188 307 4 175 656
     
Borrowings 25 031 31 806
Payables and prepayments 44 411 16 553
Total current liabilities 69 442 48 359
     
Long-term borrowings 220 740 220 740
Total non-current liabilities 220 740 220 740
     
Total liabilities 290 182 269 099
     
Share capital at nominal value 2 875 424 2 875 424
Share premium 226 056 226 056
Statutory reserve capital 287 542 287 542
Retained earnings 509 103 517 535
Total equity 3 898 125 3 906 557
     
TOTAL LIABILITIES AND EQUITY 4 188 307 4 175 656

 

Condensed consolidated statement of comprehensive income

  EUR EUR
  3 months 2011 3 months 2010
     
Rental income 6 180 7 302
Expenses related to investment property (9 351) (5 113)
     
Gross profit (3 171) 2 189
     
Administrative and general expenses (2 965) (2 485)
     
Operating profit (6 136) (296)
     
Net financial income (loss) (2 296) (1 939)
     
NET PROFIT (LOSS) FOR THE PERIOD (8 432) (2 235)
     
TOTAL COMPREHENSIVE INCOME (LOSS) (8 432) (2 235)
     
Basic earnings per share (0.00187) (0.00050)
Diluted earnings per share (0.00187) (0.00050)

 

 

 

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200


2011 Q1 interim ENG.pdf