The profit after tax for the first nine months of 2014 stood at €2.9 million against losses of €696 thousand in the corresponding period of 2013, Woolworth announced on Friday.

The rights for the use of space and other revenues for the nine months reached €15.3 million from €12.7 million in 2013. This is due to the licensing of new spaces and other contractual increases and mainly to the fact that the previous year significant temporary concessions in the rights for use of space were given because of the economic crisis.

The general and administrative expenses were reduced by 5.7% while the financing expenses fellto €10.3 million from €10.5 million.

The other income reached €1.3 million increased by €529 thousand mainly due to increased interest income.