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Almagro Capital’s Profit Soars on Revaluation of Investments

Almagro Capital posted profits of €5.05 million in the year to June, compared to €2,760 in the first half of 2020.

Almagro Capital

The socimi Almagro Capital made profits of just over five million euros between January and June 2021, compared to 2,760 euros in the same period last year, mainly due to the change in the value of its real estate investments, the company reported on Monday to BME Growth.

The fair value of the investments of the socimi went from 310,092 euros in the first half of 2020 to more than 5.8 million euros in the same six months of this year.

In addition, Almagro Capital’s net turnover reached 519,335 euros, an increase of 68.7% compared to the 307,786 euros earned in the first half of last year.

Almagro’s operating profit stood at 5.1 million euros, compared to 58,837 euros in January-June 2020.

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