Finnish YIT construction holding lost €7.1m (IFRS) in 2016

Finnish YIT construction holding lost €7.1m (IFRS) in 2016
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The Finnish YIT construction holding presented a financial report where they show the net loss of €7.1m against the 2015’s profit as much as €47.2m, the Russian RIA-Realty reports.

The Finnish construction holding, YIT, lost €7.1m net according to IFRS in 2016 against the 2015’s profit of €47.2, as it is said in the financial report of the company.

The annual revenues of the company, according to the international standards, totaled €1.7 bln, having reduced by 3%. Last year the company generated the negative operational cash flow after the investment of €43.1m, is stated in the report.

The YIT holding provides services in project design, construction as well as technical maintenance of buildings, industrial enterprises, commercial complexes and telecommunication networks in the countries of North and Central Europe, Baltic states and Russia.