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Investing in Argentina and Argentina Stocks

Discusses *smart* ways of investing in Argentina, primarily thru ADRs on NYSE and NASDAQ. Covers companies like Grupo Galicia, GGAL, Banco Frances, BFR, IRSA(the biggest Real Estate Company in Argentina) IRS, Tenaris (TS), etc. UPDATED SEVERAL TIMES A MONTH.

Thursday, February 16, 2006

Financial Results from Inversiones y Representaciones, the Biggest Real Estate Company in Argentina

Inversiones y Representaciones S.A. (Symbol IRS on NYSE) came out with results for their 2nd Half 2006. The Company's Revenues grew from ARP 185M to ARP 256M. (1 USD= 3ARP approx). See full release here.

The press release is written carelessly. The Company fails to clarify what they mean by 2Q 2006, because they talk about 6-month results. It is not clear what the 0.8 per share earning is-is it in ARP or USD? How many shares are used in the calculation? There is no balance sheet statement. A very unprofessional press release. As a shareholder of IRS, I am a bit disappointed.

Have written to the company seeking their comments and clarifications.

Sanjay John G.

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