Sotogrande Loses Seven Times Less Than in 2012

27/02/2014 – La Informacion

Sotogrande real estate, a company whose capital is almost entirely held by the NH Hoteles, closed the fiscal year 2013 with losses seven times smaller than the ones registered in 2012. Precisely, the firm lost €8.87 million and €67.9 million respectively.

According to the information provided by the CNMV (the National Commission of the Securities Market in Spain), the business´s net value rose to €25.6 million, that consitutes 12.9% less than a year before.

The company´s operating result reached a €699.000 loss, practically ten times smaller than the one from 2012 (€63.4 million).

 

 

Original article: La Información (EFE)

Translation: AURA REE

43