Cyrela Commercial Properties S.A. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 20, 2020 at 06:28 pm EDT
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Cyrela Commercial Properties S.A. Announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced total revenue was BRL 93.057 million compared to BRL 114.352 million a year ago. Net income was BRL 890,000 compared to net loss of BRL 17.144 million a year ago. Basic earnings per share was BRL 0.007 compared to basic loss per share of BRL 0.143 a year ago. For the half year, total revenue was BRL 222.959 million compared to BRL 226.669 million a year ago. Net income was BRL 17.305 million compared to net loss of BRL 13.987 million a year ago. Basic earnings per share was BRL 0.145 compared to basic loss per share of BRL 0.117 a year ago.
SYN prop e tech SA, formerly known as Cyrela Commercial Properties SA Empreendimentos e Participacoes, is a Brazil-based company involved in the real estate sector. The Company focuses on the development, trade and management of commercial properties in Brazil. Its activities are divided into five business segments: Commercial Buildings, which consists of the sale and leasing of completed office properties; Real Estate Development, which is involved in the sale of office units under construction; Warehouses, which offers leasing of industrial warehouses; Shopping malls, which is responsible for the lease of stores in shopping malls; and Services, which provides management of shopping malls and parking lots, as well as development of properties. The Company owns a number of subsidiaries, such as Aquarius Empreendimentos e Participacoes Ltda, Millennium de Investimentos Imobiliarios Ltda and Miconia Empreendimentos Imobiliarios Ltda, among others.
SYN PROP & TECH S.A. 
