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Vatican Returns to Profit in 2010 After Three Years of Losses

July 3 (Bloomberg) -- The Vatican swung to a profit of 9.8 million euros ($14.2 million) in 2010 after three years of losses during the recession.

The Holy See, the central administration for the Roman Catholic Church, had revenue of 245.2 million euros and expenses of 235.3 million euros, its press office said yesterday in a statement. Donations fell 18 percent to $67.7 million.

The Vatican, which relies on earnings from investments in stocks, bonds and real estate to supplement donations, recorded a loss of 4.2 million euros in 2009.

Separately, the Vatican Governorate, the institution that runs Vatican City and its support offices, had a net income of 21 million euros as revenue was boosted by a recovery in financial markets and a higher number of visitors to its museums.

To contact the reporter on this story: Sonia Sirletti in Milan at ssirletti@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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