Prelios says may fail to meet targets amid weak economy
MILAN Nov 4 (Reuters) - Italian real estate management company Prelios said on Monday it may fail to meet targets in its May 2012-2016 turnaround plan because of continuing weakness in the economy, and may have to revise the plan in the future.
It named Elena Capra as its new chief financial officer.
The company said it lost 44.2 million euros ($59.61 million) in the first nine months of the year, because of write-downs, value impairments and reorganization charges.
A delay in the closing of an extraordinary transaction until August meant that the start of the turnaround plan was delayed until September, the company said in a statement.
Prelios sees the real estate market recovering from the start of 2014.
Shares were down 0.54 percent at 0.64 euros after having fallen 2 percent earlier.
($1 = 0.7414 euros) (Reporting by Jennifer Clark, editing by Isla Binnie)