Trigon Property Development » News
30.05.2008 17.00,
30.05.2008
As at the end of first quarter 2008, AS Trigon Property Development owned one property development project involving 40-hectare land plot in the City of Pärnu, Niidu area. Commercial property for the logistics, warehousing and light industries will be developed on this area.
The balance sheet as of 31.03.2008 and 31.12.2007 delivered by the present announcement completely reflects the assets, liabilities and equity capital of AS Trigon Property Development, which remained in the company after separation of AS Viisnurk.
The current income statement for 3 months of 2008 reflects the profit of AS Trigon Property Development and the comparative information reflects the profit of AS Trigon Property Development and AS Viisnurk because the assets, liabilities and equity capital of AS Viisnurk were separated from the financial reports of AS Trigon Property development as of 30.09.2007.
According to the presented income statement the net profit for 3 months 2008 of AS Trigon Property Development is 1 thousand EEK and the earnings per share is 0.00 EEK. Diluted earnings of AS Trigon Property Development per share are equal to the basic earnings per share because the Company does not have any potential ordinary shares with the dilutive effect on the earnings per share.
Condensed consolidated balance sheet
|
EEK thous |
EEK thous |
EUR thous |
EUR thous |
31.12.2008 |
31.12.2007 |
31.03.2008 |
31.12.2007 |
|
Cash |
376 |
372 |
24 |
24 |
Receivables and prepayments |
97 |
84 |
6 |
5 |
Total current assets |
473 |
456 |
30 |
29 |
Investment property |
137 251 |
137 251 |
8 772 |
8 772 |
Total non-current assets |
137 251 |
137 251 |
8 772 |
8 772 |
TOTAL ASSETS |
137 724 |
137 707 |
8 802 |
8 801 |
|
||||
Borrowings |
392 |
392 |
25 |
25 |
Payables and prepayments |
466 |
450 |
30 |
29 |
Total current liabilities |
858 |
842 |
55 |
54 |
Long-term borrowings |
2 546 |
2 546 |
163 |
163 |
Total non-current liabilities |
2 546 |
2 546 |
163 |
163 |
|
||||
Total liabilities |
3 404 |
3 388 |
218 |
217 |
|
||||
Share capital at nominal value |
44 991 |
44 991 |
2 875 |
2 875 |
Share premium |
3 537 |
3 537 |
226 |
226 |
Statutory reserve capital |
4 499 |
4 499 |
288 |
288 |
Retained earnings |
81 293 |
81 292 |
5 195 |
5 195 |
Total equity |
134 320 |
134 319 |
8 584 |
8 584 |
TOTAL LIABILITIES AND EQUITY |
137 724 |
137 707 |
8 802 |
8 801 |
Condensed consolidated income statement
|
EEK thous |
EEK thous |
EUR thous |
EUR thous |
First quarter 2008 |
First quarter 2007 |
First quarter 2008 |
First quarter 2007 |
|
Continuing operations |
|
|
|
|
Rental income |
117 |
85 |
7 |
5 |
Expenses related to investment property |
(45) |
0 |
(3) |
0 |
Gross profit |
72 |
85 |
4 |
5 |
Administrative and general expenses |
(71) |
0 |
(4) |
0 |
Change in fair value of investment property |
0 |
4 968 |
0 |
318 |
Operating profit |
1 |
5 053 |
0 |
323 |
Profit from continuing operations |
1 |
5 053 |
0 |
323 |
|
||||
Profit from discontinued operations |
0 |
7 405 |
0 |
474 |
|
||||
NET PROFIT FOR THE PERIOD |
1 |
12 458 |
0 |
797 |
Basic earnings per share |
0.00 |
2.77 |
0.00 |
0.18 |
Diluted earnings per share |
0.00 |
2.77 |
0.00 |
0.18 |
Ülo Adamson
Chairman of the Supervisory Board
+372 51 39 424