AIM-listed Dolphin Capital Investors has announced a 107% rise in net asset value and profit before tax of EUR 574 mln. The company said in its preliminary results for 2007 that it has achieved considerable market share on its target resort markets of Southeast Europe (SEE) and is already believed to be the top ranked seafront development landowner in Cyprus and Greece.
AIM-listed Dolphin Capital Investors has announced a 107% rise in net asset value and profit before tax of EUR 574 mln. The company said in its preliminary results for 2007 that it has achieved considerable market share on its target resort markets of Southeast Europe (SEE) and is already believed to be the top ranked seafront development landowner in Cyprus and Greece.
The company's total land portfolio stands at around 48 million m2, with a portfolio of 14 large-scale resorts and over 60 smaller projects within Aristo Development, which Dolphin acquired a majority interest in last year.
Other highlights of 2007 include the company’s third fundraising of EUR 450 mln. New SEE markets entered last year include Turkey and Croatia. Dolphin also took its first step outside of the region with the acquisition of the Playa Grande Golf Resort in the Dominican Republic.
Miltos Kambourides, founder and managing partner of Dolphin Capital Partners, commented: ‘Over the past year Dolphin has maintained its rapid pace of growth and generated substantial shareholder value. Since admission to trading on AIM only two years ago, the Company has recorded a 3.5x increase in NAV per share before DITL, buoyed in large part by strategic investments and permitting advances across the entire portfolio.’
