Brief: Pro Kapital Grupp adjusts FY 2014 net profit due to currency exchange differences
20/04/2015 06:53
April 20(Reuters) - Pro Kapital Grupp AS PKG1T.TL :
* Said on Friday that FY 2014 profit for the period in
audited annual report and interim report of fourth quarter 2014
(21.2 million euros and 22.4 million euros respectively) differs
by 1.1 million euros ($1.19 million)
* Said the difference comes from the amount of currency
exchange differences from Latvian subsidiaries recorded in
preceding periods
* As Latvia joined Eurozone on Jan. 1, 2014 the exchange
differences are considered realized and are written off into
costs
* In the interim report the costs of exchange differences
were recorded in comprehensive income statement through retained
earnings, the auditors have advised to record those losses of
exchange difference through income statement for the period
* This adjustment increased financial costs, but did not
reflect on the company's balance sheet, the value of assets and
owners' equity remains the same
Source text for Eikon: ID:nTSE5Ntq
Further company coverage: PKG1T.TL
($1 = 0.9276 euros)
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