The half-yearly pre-tax profit amounted to Euro 5,231.8 in 2007 versus Euro 4,086.9 thousand in the same period of 2006. The 28% rise in the pre-tax profit is mainly due to profit from real estate value adjustments. Total tax stood at Euro 267.6 thousand against Euro 172.2 thousand last year, increased by 56%, as a result of the taxation rate increase since the beginning of 2007. Thus, profit after tax grew by 26.8% rising to Euro 4,964.2 thousand from Euro 3,914.8 thousand last year. Basic earnings per share amounted to Euro 0.09 in the first six months 2007 against Euro 0.07 in the same period last year. Total assets of Piraeus Real Estate Investments S.A stood at Euro 116 mn. at the end of June 2007 against Euro 114.2 mn. at the end of June 2006. The company's total investments rose to Euro 102.2 mn. at the end of June 2007 versus Euro 100.9 mn. a year to date, increased by 1.0%. Total investments, concerning 28 real estates throughout the Greek territory, account for 89% of total assets. The company's half-yearly turnover (rental income) amounted to Euro 4,029.3 thousand, against Euro 3,828.2 thousand in the same period last year, marking a 5.3% rise mainly due to the increase in the rental income as a result of the investment portfolio progressive maturing. The annualized rental return on investment portfolio value rose to 7.9% in the first six months of 2007 against 7.8% in 2006.