Unaudited Financial results of Trigon Property Development, 3 months of 2012
31.05.2012
As at the end of first quarter 2012, 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 March 2012 and 31 March 2011 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 2012 of AS Trigon Property Development is 7 274 euros and the earnings per share is -0,00162 EUR.
As of 31 March 2012 the consolidated assets of AS Trigon Property Development were 2 434 845 euros. The consolidated equity of the company was 2 156 751 euros, corresponding to 88,58 % of the total balance sheet.
Condensed consolidated statement of financial position
EUR |
31.03.2012 |
31.03.2011 |
Cash |
2 299 |
20 085 |
Receivables and prepayments |
7 546 |
1 183 |
Total current assets |
9 845 |
21 268 |
Investment property |
2 425 000 |
4 167 039 |
Total non-current assets |
2 425 000 |
4 167 039 |
TOTAL ASSETS |
2 434 845 |
4 188 307 |
Borrowings |
25 032 |
25 031 |
Payables and prepayments |
53 984 |
44 411 |
Total current liabilities |
79 016 |
69 442 |
Long-term borrowings |
199 078 |
220 740 |
Total non-current liabilities |
199 078 |
220 740 |
Total liabilities |
278 094 |
290 182 |
Share capital at nominal value |
2 699 437 |
2 875 424 |
Share premium |
226 056 |
226 056 |
Statutory reserve capital |
287 542 |
287 542 |
Retained earnings |
(1 056 284) |
509 103 |
Total equity |
2 156 751 |
3 898 125 |
TOTAL LIABILITIES AND EQUITY |
2 434 845 |
4 188 307 |
Condensed consolidated statement of comprehensive income
EUR |
3 months 2012 |
3 months 2011 |
|
|
|
Rental income |
4 740 |
6 180 |
Expenses related to investment property |
(1 405) |
(9 351) |
Gross profit |
3 335 |
(3 171) |
|
|
|
Administrative and general expenses |
(8 240) |
(2 965) |
Operating profit |
(4 905) |
(6 136) |
|
|
|
Net financial income (loss) |
(2 369) |
(2 296) |
NET LOSS FOR THE PERIOD |
(7 274) |
(8 432) |
|
|
|
TOTAL COMPREHENSIVE LOSS |
(7 274) |
(8 432) |
|
|
|
Basic earnings per share |
(0,00162) |
(0,00187) |
Diluted earnings per share |
(0,00162) |
(0,00187) |
Ülo Adamson
Chairman of the Supervisory Board
+372 667 9200
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