Investors House, a leading real estate investment company, recently released its financial statements for the previous year and shared its performance during the last quarter. During October-December, the company experienced a decrease in turnover to 1.8 million euros from 2.1 million euros compared to the same period the year before. Additionally, their net income also dropped to 0.55 million euros from 0.65 million euros, while the operating result decreased to 0.34 million euros from 0.36 million euros. The reported operating profit went down to 0.04 million euros from 3.9 million euros, and the overall result for October-December was 0.1 million euros compared to 2.3 million euros in the previous year.
The decline in performance during the last quarter was primarily due to several factors such as a decrease in property values by around 1.0 million euros and goodwill write-down of subsidiary Juhola Asset Management by around 0.6 million euros.
On the positive side, changes in value of investment properties owned by associated companies contributed around 1