Unirea Shopping Center Switches to RON23M Profit in 2018

Unirea Shopping Center (SCDM.RO), which operates two retail centers in Bucharest and Brasov, posted a profit of RON23.2 million in 2018, compared with a loss of RON34.8 million in 2017, after cutting back ion exploitation and financial expenses.

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Investments in the building,equipment and furnishings amounted to over RON5 million in 2018, while the company's own capital grew to RON329.9 million end-2018 from RON306.7 million end-2017.

The company plans to refurbish its shopping centers in the upcoming period to attract more local and international retailers, said board chairman Bogdan Alexander Adamescu.

Unirea Shopping Center is controlled by The Nova Group Investments Romania Bucharest with 80.3%, while regional investment fund SIF Muntenia (SIF4.RO) owns 10.8%.

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