Thursday, October 29, 2020
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The Socimi Gavari’s Losses Soared by 231% to June

The Socimi specialising in student flats saw its losses rise by 231% to 207,100 euros in the second quarter and has approved a capital increase of 4.4 million euros.

Student apartment owned by the Socimi Gavari.

Gavari Properties, a Socimi established in 2018 that owns rental apartments for students, saw its losses increase by 231% to 207,100 euros in the second quarter of the year compared to the forecasts it had for this period. It had expected to lose around 90,000 euros, according to reports from the listed company itself.

The company’s net turnover amounted to 412,000 euros during the period, which represented just 49% of the annual forecast.

Read the full article in Spanish.

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