Latvia's state property company posts €4.8 million profit in H1

Latvia's state property company, Valsts Nekustamie Ipasumi (VNI), has announced profits of €4.875 million for the first 6 months of 2018. That's up significantly from the €2.9 the company posted in 2017. However, sales have decreased by 4.4 percent in the same period, down from €19.9m to €19m. VNI currently has 32 projects in progress, including the new office building for the Corruption Prevention Bureau (KNAB), the New Riga Theatre and the renovation of the Latvian Occupation Museum. The total cost of the current projects exceeds €135 million. The VNI manages over 500 properties, with a total floor space of over 1.8 million sqm.