Published: 2011-08-22 15:08:22 CEST
Trigon Property Development
Half Year financial report

TPD: Unaudited Financial results of Trigon Property Development, 6 months of 2011

 

                                                                                                                                                                                               22.08.2011

As at the end of second 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 30 June 2011 and 31 December 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 6 months 2011 of AS Trigon Property Development is 9 256 euros and the earnings per share is –0.00206 EUR.

As of 30 June 2011 the consolidated assets of AS Trigon Property Development were 4 174 713 euros. The consolidated equity of the company was 3 897 301 euros, corresponding to 93.35 % of the total balance sheet.

Condensed consolidated statement of financial position

 

  EUR EUR
  30.06.2011 31.12.2010
Cash 6 393 7 804
Receivables and prepayments 1 281 812
Total current assets 7 674 8 616
     
Investment property 4 167 039 4 167 039
Total non-current assets 4 167 039 4 137 039
     
TOTAL ASSETS 4 174 713 4 175 656
     
Borrowings 16 016 31 806
Payables and prepayments 40 656 16 553
Total current liabilities 56 672 48 359
     
Long-term borrowings 220 740 220 740
Total non-current liabilities 220 740 220 740
     
Total liabilities 277 412 269 099
     
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 508 279 517 535
Total equity 3 897 301 3 906 557
     
TOTAL LIABILITIES AND EQUITY 4 174 713 4 175 656

 

Condensed consolidated statement of comprehensive income

 

  EUR EUR
  6 months 2011 6 months 2010
     
Rental income 12 360 14 348
Expenses related to investment property (9 351) (14 648)
     
Gross profit 3 009 (300)
     
Administrative and general expenses (6 397) (4 435)
     
Operating profit (3 388) (4 736)
     
Net financial income (loss) (5 868) (5 345)
     
NET PROFIT (LOSS) FOR THE PERIOD (9 256) (10 080)
     
TOTAL COMPREHENSIVE INCOME (LOSS) (9 256) (10 080)
     
Basic earnings per share (0,00206) (0,00224)
Diluted earnings per share (0,00206) (0,00224)

 

 

 

Ülo Adamson

Chairman of the Supervisory Board

+372 667 9200

  


2011 II Q interim report ENG.pdf