Pasal Real Estate Development SA reported consolidated earnings results for the first half of 2013. Before the results from valuation of investment properties referred to profits of 551,000 against losses of 806,000 for the first half of 2012. The results after tax and minority inters referred to losses of 4,149,000 against losses of 9,745,000 for the corresponding period last year.
The consolidated operating income (from rents, services and sales of merchandize) reached 2,620,000 against 3,539,000 for the first half of 2012. Net asset value before deferred taxes (NAV) at June 30, 2013 amounted to 2.74 per share, while the net asset value after deferred taxes at June 30, 2013 amounted to 1.46 per share. Net bank debt of the group (loans less cash & equivalents) at June 30, 2013 amounted to 141,480,000 compared to 139,437,000 at December 31, 2012.