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106.5 million TL net profit by Nurol REIT | Akşam / 13.05.2016

Nurol REIT published its 2016 1st quarter financial data report. Nurol REIT, after increasing its capital in 2015 to 80 million TL, increased its equities to 161.8 million TL with a profit of 106.5 million TL according to the 2016 1st quarter data. As the long term liabilities rate of Nurol REIT, the equities of which increased by 192% in comparison with last period, increased from 26% to %32, the total assets accrued as 1.757 billion TL. The statement on 1st Quarter data by Nurol REIT reported the drop of equity financial liability rate to 3.65 percent and the cruise of financial liability non-cash loans along 591.5 million TL. Nurol REIT Deputy Director General of Finances Cemail Batuk stated the following:

“We, as Nurol REIT, were in a position to complete our project investments initiated in 2011 as of the 2nd half of 2015. Our financial structure has gained quite strength with the starting hand-over process in Nurol Tower project and 140 million TL fund attained from the company capital increase. The positive effect was continued to be observed during the first quarter of 2016.”

Batuk, stating that the office areas within the Nurol Tower project strengthened their long term portfolios, said that the true value of these estimable assets, which were previously included in the ongoing constructions pursuant to accounting principles, were begun to be witnessed in the balance sheet following the completion of project and acquisition of occupancy permits.

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