Eastern European Property Fund swings to profit in first half

26th Sep 2016 15:17

(ShareCast News) - Eastern European Property Fund posted its unaudited half-yearly results for the six months to 30 June on Monday, confirming that all remaining units within the Nil Passage property, Istanbul, were sold during the period, generating aggregate proceeds of £0.7m.The AIM-traded firm reported property held at 30 June as being valued at £16.7m, up from £16.1m a year earlier on a like-for-like basis and £16.9m as at 31 December.Net asset value at period end was £15.7m, equivalent to 100.79p per ordinary share - up from £15.5m and 99.56p per share a year earlier.The company's income for the six months was £0.3m, swinging from a loss of £1.3m in the first half of 2015.Earnings per share were 2.24p, compared to a loss of 8.30p a year prior.