Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera Y Agropecuaria Reports Earnings Results for the Quarter Ended December 31, 2020
March 11, 2021 at 03:01 pm EST
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Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria reported earnings results for the quarter ended December 31, 2020. For the quarter, net result for the first semester of fiscal year 2021 recorded a loss of ARS 3,264 million compared to a gain of ARS 2,278 million in the same period of 2020. The result from continuing operations recorded a gain of ARS 3,856 million mainly due to higher results from changes in the fair value of the investment properties from our subsidiary IRSA and lower losses from net financial results.
Cresud SACIF y A is an Argentina-based company engaged mainly in telecommunications sector. Through its subsidiaries, it operates two segments: Agricultural Business and Urban Properties and Investment Business, which is divided into: Operations Center Argentina and Operations Center Israel. Agricultural Business focuses on acquiring, developing and exploiting agricultural properties. It is involved in farming activities, cattle raising, leasing land to third parties and perform agency and agro-industrial services, including a meat packing plant. Operations Center Argentina is engaged in the development, acquisition and operation of shopping malls, offices and hotels, among others, in Argentina, and owns selective investments outside Argentina. Operations Center Israel includes real estate activities in Israel and abroad, supermarket chain management and telecommunications services, both locally, as well as is engaged in the insurance, pension and provident funds, among others.
CRESUD SOCIEDAD ANÓNIMA, COMERCIAL, INMOBILIARIA, FINANCIERA Y AGROPECUARIA 
