Polish GTC's profits halve.

Development company Globe Trade Centre, a Warsaw-listed firm, has reported a 53% fall in its net profit for the third quarter of 2008 due to lower gains on revaluation of its real estate. The profit of GTC from July through September was189 million zloty (EUR 48.4 million) compared to 403 million zloty (over EUR 103 million) for the same period in 2007. The company’s profit from revaluations of investment properties has fallen down to 62 million euros from more than 117 million for Q3 2007 on the backdrop of falling prices in the markets it operates. GTC has four projects for shopping centers in Bulgaria - in Varna, Burgas, Stara Zagora and Ruse.