Imotrust expects 51m-euro profit in five years

Real estate developer Imotrust Arad (ARCV) expects a gross profit worth 186m RON (51 million euros) from the 32 projects it has underway, a profit that includes earnings derived from stakes it has in companies, according to documents published on the company’s website. From 2008 to 2012, Imotrust expects overall revenues worth around 181 million euros (662 million RON) from ongoing projects. The real estate developer’s net asset value is expected to rise from 250 million RON (68.5 million euros) at the end of this year to 450 million RON (123.2 million euros) by the end of 2012. At the end of June, Imotrust’s net asset value, excluding stakes in companies, amounted to 151.6 million RON (41.5 million euros).