Builder BAM books H1 loss of 251 mln due to Dutch housing woes

AMSTERDAM Thu Aug 23, 2012 1:41am EDT

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AMSTERDAM Aug 23 (Reuters) - Dutch construction company BAM made a net loss of 251 million euros in the first half of 2012 due to 397 million euros of writedowns on property operations as it expects a further drop in house prices in the Netherlands.

BAM said in statement Thursday it expected a further fall of house prices of 10 to 15 percent in the next three years, leading to writedowns of its land positions and the goodwill of its Dutch property operations. (Reporting by Gilbert Kreijger)

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