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
|