StockMarketWire.com - South eastern European property group Secure Property Development & Investment booked a full-year loss after rising revenue was offset by expenses and negative property valuations.

Pre-tax losses for the year through December amounted to €1.37 million, compared to year-on-year losses of €2.32 million.

Revenue increased to €0.80 million, up from €0.46 million.

Its net asset value per share fell to 17p at the end of December down from 0.2p a year earlier.

The company said the second stage of plans to transfer property assets in exchange for shares in Arcona was expected to take place in the second half of 2021.

Stage two involved the transfer of certain assets in Romania and Ukraine in exchange for Arcona shares and warrants and €1 million in cash.


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