Invalda AB is retracting activity forecasts, earlier announced for 2008. Forecasted net consolidated profit of Invalda group for 2008 was 127 mLTL (36.8 mEUR), part of net profit attributable to shareholders of Invalda AB – 121.8 mLTL (35.3 mEUR).
Making forecasts it was assumed that until 31-12-2008:
– there won’t be significant positive or negative changes in value of investment property;
– there won’t be significant changes in financial and real estate markets;
– there won’t be significant changes in the structure and owned investment property of the group or owned investment property.
Forecasts are retracted, because all of the assumptions have changed.
The Board of Invalda AB has evaluated loss of the financial sector companies, also considered the unaccomplished planned real estate deals and the possible lower value of investment assets after the reappraisal, which will be made at the end of the year. The mentioned activities will significantly affect the consolidated result for 2008 of the Invalda group. The company states that consolidated result for this year can be negative and the net consolidated loss of the group could amount to 30 mLTL (8.7 mEUR).