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Orco says first half revenues down 9.6 pct

Thu Aug 7, 2008 11:59am EDT

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PRAGUE, Aug 7 (Reuters) - Czech real estate developer Orco Property Group (ORCO.PA) (ORCOsp.PR) said its revenues in the first half dropped 9.6 percent to 113 million euros from 125 million a year ago.

The company slightly cut its full-year revenue target to 343 million euros from 347 million. It said it would exceed a full-year target for asset sales of 200 million euros, and that it has sold property worth 100 million so far this year, at 98 percent of valuation from the end of 2007. (Reporting by Jan Lopatka; Editing by David Cowell)



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