Riga, Latvia, 2018-04-20 14:28 CEST (GLOBE NEWSWIRE) -- New Hanza Capital, AS Council and Board approved the audited consolidated and company’s separate annual reports of New Hanza Capital, AS for 2017. In the reporting period, the group gained profit of EUR 7.94 million after taxes. The performance of the company in 2017 was mainly affected by the growth of the investment real estate value in certain subsidiaries of the company.
The issue of distribution of profit will be decided at the nearest meeting of New Hanza Capital, AS shareholders.
In 2018, New Hanza Capital, AS shall continue its operation in management and gradual development of the acquired properties. Currently all assets owned by the group are profitable, having good development potential, as well as there is growth of their value expected upon implementation of the planned improvements in the properties. The company has positive cash flow, and currently it does not require additional investments for continuing its operation and implementation of development plans. In the upcoming three years, the company is planning to become one of the leading real estate investment management market players in Latvia.
New Hanza Capital, AS consolidated and company’s separate annual reports for 2017, as well as independent auditors’ report and Statement of Corporate Governance for 2017 are available at the company’s website nh.capital.
Jānis Bunte
PR Specialist
Tel.: +371 6777 5432
