Profit after tax amounted to euro 5.894 thousand in the first semester of 2008, against euro 4.964 thousand in the first semester of 2007, presenting an increase of 18.7%, mainly due to the increase of gains from the sales of investment property and the decrease in the general expenses of the company.
Basic EPS in the first semester of 2008 amounted to euro 0,11 against euro 0,09 of the respective period last year.
Profit before tax amounted to euro 6.175 thousand in the first semester of 2008 compared to euro 5.232 thousand in the first semester of 2007, presenting an increase of 18.0% and the tax expenses amounted toeuro 280.9 thousand against ?267.6 thousand the same period last year.
Income from leased assets amounted to euro 3.757 thousand in the first semester of 2008 compared to euro 4.029 thousand the same period last year, presenting a decrease by 6.75% mainly due to the sale of investment properties during the period from 01.07.2007 to 30.06.2008.
Company's total operating expenses amounted to euro 975 thousand in the first semester of 2008, presenting a decrease by 22.2% compared to the same period last year.
At the end of June 2008 total assets of Piraeus Real Estate Investment Company SA amounted to euro 112.6 mn, versus euro 116.0 mn at the end of June 2007, thus decreased by 2,9%.
The investment property of the company at the end of June 2008 amounted to ? 94.02 mn as opposed to ? 102.2 mn a year ago, presenting a decrease of 8.0%. Total investment property portfolio, which includes 26 property ownerships in Greece, constituted 83.5% of the assets.