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Demetra worried about properties

12/01/2010 10:32
According to an announcement released on Tuesday, the results of Demetra Investments will depend on the revaluation of investment property. Demetra expects that its results for 2009 will show improvement due to its investments in movable securities.

“Although the Company’s portfolio that is invested in stock markets shows profits due to their positive course in Cyprus and overseas, whether the Group will record profits or losses will depend on the revaluation of investment property”.

In 2008, the Company recorded losses of €84.1 million against profits of €38.1 million in 2007.

In the first six months of the year, the Company enjoyed profits of €8 million against losses of €45 million in the corresponding period of 2008.

According to its portfolio dated September 30, 2009, Demetra has invested 32.44% of its assets in properties in Cyprus, Romania and Bulgaria while 14.69% is invested in shares. Its cash available are 33.75% of its assets.