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Globalworth Real Estate Investments Ltd on Thursday reported lower revenue but nevertheless swung to a profit amid lower costs.
The real estate investor focused on Central and Eastern Europe said it swung to a pretax profit of €22.2 million in the first half of 2025 from a loss of €65.1 million a year ago.
However, net operating income declined 7.4% to €67.0 million from €72.4 million.
Revenue fell 7.5% to €115.7 million from €125.0 million.
Operating expenses came down 7.6% to €48.7 million from €52.7 million.
Notably, the company for the first half of 2024 had reported a loss from subsidiary sales of €24.1 million and a €13.2 million loss from a joint venture sale, neither of which repeated in the first half of 2025.
The total combined portfolio value as at June 30 was €2.6 billion, down from €2.7 billion a year prior, however it was up by 0.6% from December 31, 2024.
Globalworth declared a €0.05 per share cash dividend for the first half of 2025. It said it won’t offer a scrip dividend alternative this time, since it isn’t necessary to meet bond restrictions.
Globalworth Real Estate shares rose 1.3% to €2.40 on Thursday morning in London.
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