Athens-based Grivalia Properties reported net profits for 2016 reaching 26.4 million euros, while adding that adjusted profits before tax, excluding fair value adjustments, provision for doubtful debt and negative goodwill from participation in joint ventures reached 45.5 million euros.
The corresponding figure for 2015 was 43.7 million euros.
The group also reported a provision for doubtful debt relating to receivables from related obligations owed by super market retailer Marinopoulos S.A. General Trade and Marinopoulos Brothers Holdings, to the tune of 1.5 million euros. The latter debt by the troubled supermarket group emanates from arrears owed on the operating leases of four commercial properties owned by Grivalia.
