10 March 2005 -

Report Summary

Is GYO, the largest REIT on the ISE, posted US$ 78.66 mn (YTL 105.11 mn) net profit in 2004, according to inflation adjusted and consolidated CMB financial statements. The result is three times greater than US$ 24.47 mn net profit in 2003. Almost 54 % of net profit (US$ 42.6 mn) derived from Reversal of Provisions, which had stemmed from appraisal differences in 2003.

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