Treasury Holdings’ AIM-listed subsidiary China Real Estate Opportunities (CREO) reported China Real Estate Opportunities swung into a pretax profit of £15.04m in the six months to end of June from a loss of 3.07m last year.
The investor and developer, which targets schemes in
That equated to EPRA NAV per share of £9.74, an increase of 16.8% since 31 December 2007.
NAV per share has increased by 26.8% since the company floated at £7.68 in July 2007.
It added that its acquisitions pipeline remained strong.
CREO said that in the face of challenges in the debt and equity markets it was exploring a number of financing structures to underwrite the short- to medium-term growth of the portfolio.
Ray Horney, chairman of CREO, said: “The first half of 2008 has been a period of significant activity as the company moves forward with both its development and asset management programs.”
