Profit after tax amounted to euro 7.115 thousand in the first nine months of 2008, against euro 6.672 thousand in the same period of 2007, presenting an increase of 6,6%, 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 nine months period of 2008 amounted to euro 0,13 against euro 0,12 of the respective period last year.
Profit before tax amounted to euro 7.544 thousand in the nine months period of 2008 compared to euro 7.078 thousand in the same period of 2007, presenting an increase of 6,6% and the tax expenses amounted to euro 429 thousand against euro 406 thousand the same period last year.
Income from leased assets amounted to euro 5.472 thousand in the nine months period of 2008 compared to euro 6.010 thousand the same period last year, presenting a decrease by 8,9% mainly due to the sale of investment properties during the period from 01.10.2007 to 30.09.2008.
Company's total operating expenses amounted to euro 1.534 thousand in the nine months period of 2008, presenting a decrease by 17,7% compared to the same period last year.
At the end of September 2008 total assets of Piraeus Real Estate Investment Company SA amounted to euro 113,4 mn, versus euro 110,9 mn at the end of September 2007, thus increased by 2,3%.
The investment property of the company at the end of September 2008 amounted to euro 94,0 mn as opposed to euro 100,9 mn a year ago, presenting a decrease of 6,8%. Total investment property portfolio, which includes 26 property ownerships in Greece, constituted 83% of the assets.