PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
AIM-listed Ablon narrows pretax loss, sees no recovery signs in first half
Hungarian CEE property owner and developer Ablon, registered in Guernsey and listed on London's AIM, narrowed its first half pretax loss to e2.9m from e14.3m in 1H08 and lifted gross rental income by 9%. Adjusted NAV per share was ₤2.95 at end-June. Shareholders' funds slipped to e236m from e239m. Chairman Dennis Twining said unprecedented macroeconomic conditions exacerbated by a general lack of liquidity continued to overshadow financial results. "While there has been some improvement in the credit markets, overall market conditions in central and eastern Europe have not improved. We have not seen any green shoots of recovery in our markets during the first half of 2009, and are unlikely to see much improvement for the full year."