Kimberly Enterprises sells Czech Republic residential development plot

29th Jul 2015 16:01

(ShareCast News) - AIM-listed Kimberly Enterprises announced the sale of a residential development plot in Czech Republic for a total cash consideration of around €2.3m.The Eastern European property developer said the net proceeds of the disposal are expected to be around €1.8m, of which its share is 25%, or €0.45m.The company said profit from the transaction is not expected to be material and will be recorded in its accounts under the "share of loss of equity-accounted investments, net of tax".Kimberly shares were untraded on Wednesday.