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Monday, August 31, 2009

Loss of property developer Orco further widens y/y in H1.


Source: IntelliNews - Czech Republic Today


Loss of property developer Orco further widens y/y in H1. The loss of Luxembourg-based property developer Orco Property Group (OPG) surged 14.2 times y/y to EUR 199.9mn (CZK 5.4bn) in H1, significantly above market estimates for EUR 135mn loss, company’s financials reveal. The bottom line deterioration was mainly affected by non-cash valuation adjustments on properties...


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