Syn Prop & Tech S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023
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Syn Prop & Tech S.A. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was BRL 105.91 million compared to BRL 105.41 million a year ago. Net income was BRL 3.56 million compared to BRL 6.85 million a year ago. Basic earnings per share from continuing operations was BRL 0.02332 compared to BRL 0.0449 a year ago. Diluted earnings per share from continuing operations was BRL 0.02332 compared to BRL 0.0449 a year ago.
For the nine months, sales was BRL 309.13 million compared to BRL 359.36 million a year ago. Net loss was BRL 15.46 million compared to BRL 33.23 million a year ago. Basic loss per share from continuing operations was BRL 0.10125 compared to BRL 0.21767 a year ago. Diluted loss per share from continuing operations was BRL 0.10125 compared to BRL 0.21767 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. 
