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Fotex announces investments by units

Hungarian property holding company Fotex said late Friday its Dutch subsidiary FN2 B.V. has purchased an office building in Utrecht and its Luxembourg-based unit UPINGTON INVESTMENTS Ltd has acquired Hungary-based company Plazapark.

The Utrecht office building has a space of 7,122 sqm with 129 parking places, and is leased for long term.

The unit UPINGTON INVESTMENTS has purchased 100% of PLAZAPARK Kft based in Hungary. This purchase extended the real estate property of Fotex's consolidated companies by 95,274 sqm of plot and 5,524 m2 in superstructure, Fotex said.

Fotex reported first-quarter consolidated net income edged down 2% to EUR 1.280 million, down 2% yr/yr, and Q1 revenue of EUR 9.384 million, up 7% from the same period a year earlier. Consolidated total assets stood at EUR 167.7 million on March 31, 2011, up 2% from the end of 2010.