Unirea Shopping Center, manager of two shopping centers in capital city Bucharest and central city of Brasov, posted a net profit of RON5.98 million in 2010.
The company said total sales fell 9% to RON78.6 million in 2011, from roughly RON86.5 million a year earlier.
“The results were negatively affected by the (financial) crisis and the lower revenues following massive restructuring of commercial areas,” Unirea Shopping Center said in its financial report.
End-2011, the company’s assets were valued at RON425.2 million, down from RON432.2 million in the previous year.
Unirea Shopping Center is majority owned by Dan and Carmen Adamescu, through Nova Trade company, with a 74.16% stake. Regional investment fund SIF Muntenia (SIF4.RO) holds a 10% stake, while other investors own together 15.8% of the shares.
On Rasdaq market in Bucharest Thursday, Unirea Shopping Center closed down 1.16% at RON85 a share. (EUR1=RON4.3745)