Black Sea Property losses narrow

Black Sea Property's pre-tax losses narrowed to €162,171 in the six months to the end of June - down from €241,471 last time.

The unaudited net asset value at the end of June was €770,500 or 0.21 cents per share compared with €1,167,893 or 0.32 cents per share a year ago.

The company changed its functional currency and presentation currency from sterling to euros with effect from 1 Jan.