PRAGUE Aug 28 Real estate developer Orco
Property Group posted a net loss of 63
million euros for the first half of 2014, the company said on
Thursday, after a profit of 7 million a year ago.
The loss does not include the sale of its large Zlota 44
project in Warsaw, announced earlier this week. The closing of
the sale will result in a partial reversal of a 47 million euro
impairment in the third quarter, it said.
The company, which will be delisted from the Prague Stock
Exchange on Sept 22 but remain listed in Paris and Warsaw, said
revenue slumped to 16.8 million from 36.6 million a year ago,
with the fall coming mainly from the sale of the Prague Bubny
land plot in the first half of last year.
(Reporting by Jan Lopatka)