The Catalan real estate company Renta Corporación closed the first nine months of the year with losses of 3.7 million euros, well below the profit of 8.1 million euros that it recorded during the same period a year earlier, as reported to the National Securities Market Commission (CNMV).
The listed company entered the red mainly due to a 39% decrease in its turnover to 33.6 million euros. That decline was, in turn, due to the lower sale of properties. Specifically, the management of real estate projects meant that only 200,000 euros was left in the coffers of the Catalan firm, whilst last year it had 8.4 million euros.
Read the full article in Spanish.