Advance Terrafund REIT's profit for the second quarter of 2012 is almost 9% higher


The profit of Advance Terrafund REIT for the second quarter of 2012 is BGN 11.3 million compared to BGN 10.4 million for the same period of 2011.

As of June 30, 2012 the investment property of the company includes: agricultural land with an area of ​​approximately 282,653 decares worth BGN 137.2 million, property under regulation with an area of ​​approximately 128 decares worth BGN 12.3 million and property in regulation with an area of ​​approximately 11 acres worth BGN 3.09 million, or a total of BGN 152.6 million.

At the end of the second quarter for the 2011-2012 business year, Advance Terrafund REIT has concluded contracts for the lease and lease of approximately 227,861 acres of agricultural land. The realized rental and rental income amounted to BGN 2.99 million.

For comparison, the lease and rent contracts concluded for the last business year 2010-2011 are for 246,719 decares of agricultural land and their revenues amount to BGN 2.97 million.

For the second quarter of 2012, Advance Terrafund REIT sold 28,663 acres of agricultural land at an average price of 900 BGN / ha, with sales revenues as of June 30, 2012 amounting to BGN 25.8 million.

The company's assets are BGN 203 million and the net asset value per share is BGN 2.35, at a current market price of BGN 1.889.

On 20.06.2012. Advance Terrafund REIT paid dividend to its shareholders for 2011 amounting to BGN 21 million


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