At the same time, VNI group increased turnover by 33.8% last year to EUR 69.216 million and suffered a loss of EUR 9.584 million in contrast to profit made in 2014.

The company’s management attributed the loss to the revaluation of the company’s real estate portfolio, which was carried out at the end of last year. As a result of the revaluation, the balance of the company’s investments grew by EUR 63.47 million and expenditure increased by EUR 15.13 million. The property manager’s losses also rose as value of provisions for suspended projects decreased by EUR 1.84 million.

Revenues from property lease rose by 9.8% last year to EUR 30.942 million or 46.8% of total revenues. and revenues from construction services jumped 84% to EUR 29.298 million, or 44.3% of the company’s total revenues in 2015.

In 2014, VNI reported EUR 48.916 million in turnover and a EUR 1.31 million profit. The group’s turnover was EUR 51.72 million and profit EUR 2.5 million.

VNI, which operates under the Finance Ministry, is involved in the lease, purchase, sale and other deals in real estate.

informs LETA.