7 July 2010
This morning Aisi Realty (LSE: AISI LN) released its audited consolidated 2009 financial results: revenue dropped to negative USD 17.4 mln vs. positive USD 26.0 mln in 2008, due to fair value losses on investment property. The company ran a net loss for the year of USD 39.2 mln vs. USD 13.7 mln in 2008. Aisi said its cash and cash equivalents at yearend equaled USD 5.0 mln. The developer said its only bank debt consists of two tranches totaling USD 16 mln of a USD 34.4 mln loan facility syndicated by the EBRD to complete its Brovary logistics complex. Aisi said its board considers the results unsatisfactory and is exploring strategic opportunities to make the group’s operations profitable.