(Agencies) Sotogrande S.A., the real estate arm of the NH Hoteles chain, closed its 2009 financial year with losses amounting to €10,500,000, which multiplies by ten its positive balance in 2008, according to a statement issued to the Comisión Nacional del Mercado de Valores (the Spanish Stock Exchange Commission). Financial income was stated at €719,000 while costs came to €2.4m. Net capital gains were up by 6.3% (€213m) and assets by 11.91% (€339.6m). The before-tax balance shows a gross loss of €13.4m. Sotogrande S.A., registered in San Roque, also has several projects in the Dominican Republic and Mexico.
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