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Share Name | Share Symbol | Market | Type |
---|---|---|---|
IRSA Inversiones and Representaciones SA | NYSE:IRS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.12 | 1.27% | 9.58 | 9.58 | 9.48 | 9.52 | 9,468 | 15:22:29 |
BUENOS AIRES, Argentina, Sept. 9, 2017 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BASE: IRSA), the leading real estate company in Argentina, today announces its results for the Fiscal Year 2017 Ended June 30, 2017.
During the year, IRSA's Board of Directors decided to change the valuation method of investment properties (mainly, shopping malls, offices and land reserves) from historical cost to fair market value, in accordance with the International Financial Reporting Standards (IFRS). The reason for this change is the need to adjust the valuation of investment property to its fair market value, for its amortized acquisition cost is not reflective of their economic substance. The Company has recognized the effects of this change in the current financial statements as of June 30, 2017. The Company has retained an independent appraiser to estimate the fair market value of its investment properties.
HIGHLIGHTS
Financial Highlights | ||
Income Statement |
06/30/2017 |
06/30/2016 |
(adjusted) | ||
Revenues from sales, leases and services |
74,172 |
31,523 |
Consolidated Gross Profit |
22,651 |
10,424 |
Net result from changes in the fair value of |
4,453 |
17,559 |
Consolidated Profit from Operations |
9,550 |
20,441 |
Profit / (Loss) For the Period |
5,220 |
9,496 |
Attributable to: |
||
IRSA's Shareholders |
1,786 |
8,764 |
Non-Controlling interest |
416 |
288 |
EPS (Basic) |
3.11 |
15.24 |
EPS (Diluted) |
3.08 |
15.14 |
Balance Sheet |
06/30/2017 |
06/30/2016 |
(adjusted) | ||
Current Assets |
65,492 |
42,763 |
Non Current Assets |
165,750 |
149,378 |
Total Assets |
231,242 |
192,141 |
Current Liabilities |
46,434 |
43,600 |
Non Current Liabilities |
137,472 |
112,685 |
Total Liabilities |
183,906 |
156,285 |
Non-Controlling Interest |
21,472 |
14,224 |
Shareholders' Equity |
47,336 |
35,856 |
IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BASE: IRSA) is Argentina's largest, most well-diversified real estate company, and it is the only company in the industry whose shares are listed on both the Bolsa de Comercio de Buenos Aires and The New York Stock Exchange. Through its subsidiaries, IRSA manages an expanding top portfolio of shopping centers and office buildings, primarily in Buenos Aires. The company also develops residential subdivisions and apartments (specializing in high-rises and loft-style conversions) and owns three luxury hotels Additionally, IRSA owns a stake in Banco Hipotecario, Argentina's largest mortgage supplier in the country as well as international opportunistic investments in real estate and other assets, including 68.3% stake in the largest conglomerate in Israel, IDB Development Corporation.
A longer version of this press release with detailed information is available on the web site: http://www.irsa.com.ar.
IRSA cordially invites you to participate in its FY 2017 Results Conference Call on Monday, September 11, 2017, at 9:00 AM Eastern Time
If you would like to participate, please call:
United States: (844) 308-3343
International: +1-(412) 717-9602
ID# IRSA
To access the webcast, click on the link below:
http://webcast.engage-x.com/Cover.aspx?PlatformId=so%2BiiYvMLJSZCP4rH7JU0A%3D%3D
Investor Relations Department
IRSA Inversiones y Representaciones S.A.
+ 5411 4323-7449
ir@irsa.com.ar
www.irsa.com.ar
Follow us on Twitter @irsair
View original content:http://www.prnewswire.com/news-releases/irsa-inversiones-y-representaciones-sa-announces-results-for-the-fy-2017-ended-june-30-2017-300516685.html
SOURCE IRSA Inversiones y Representaciones S.A.
Copyright 2017 PR Newswire
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