210: Bulgarian Property Investment

Navigation trail: / latestnews / archive / 210 - published: 17-10-06

LONDON (SHARECAST) - Bulgarian Property Developments, the commercial property firm, made a small profit for the last year and said it was in talks that could see it fully invested.

The company said it was in negotiations with a number of vendors which it hopes to acquire within the next few months. �If the purchase of all of the properties which are under negotiation or subject to contract are completed, the company will effectively be fully invested.�

Bulgarian Property reported a modest pre-tax profit of �38,000 for the year to June from a loss of �273,000 a year earlier. Turnover was nil, unchanged from last year.

The group said it remains optimistic about its prospects for the current year, adding that the balance of funds available will be about �8m, to provide seed capital for the development of the sites and working capital.

Source:

SHARECAST