INVL Baltic Real Estate produced profits of €1.9M for the first six months of 2018, a 24.8 percent increase over the same period last year. Its net operating income rose 43 percent to €1.7m. However, the company’s consolidated income fell by 11 percent to €2.9 million. Vytautas Bakšinskas, real estate fund manager at INVL Asset Management said that the reconstruction of Vilnius Gates business centre, completed last year, contributed to this year’s earnings growth. “Net operating income from that property increased eight times in the first half of this year compared to the same period last year, to €450,000.” The company, which is in the process of a 3 phase share offering, owns assets worth €57.5 million.
