Lamda Development reports 19.1-mln-euro loss in Jan-Sept

20 November 2015
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Lamda Development Group on Thursday reported losses of 19.1 million euros in the January-September period, from losses of 4.7 million in the corresponding period last year, reflecting losses from the evaluation of investment property assets which totaled 20.6 million euros, up by 13.4 million compared with 2014.

Profitability of the three shopping centers operated by Lamda Development (EBITDA) grew 7.0 pct in the nine-month period to 30 million euros, while consolidated EBITDA rose 4.4 pct to 23.9 million euros.

Gold Hall reported a 4.1 pct increase in turnover, while EBITDA grew 10 pct to 10.7 million. Mediterranean Cosmos reported a 3.5 pct increase in turnover while operating earnings totaled 10.2 million euros, up 8.5 pct. Finally, The Mall Athens said its nine-month turnover totaled 18.1 million euros, unchanged from 2014, while operating profit was also stable at 1.3 million euros.

Net asset value was 409 million euros, or 5.23 euros per share, down from 430.7 million in December 31, 2104.

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