Czech Orco Q1 net drops, revenues jump

30.05.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

Czech real estate developer Orco Property Group said on Wednesday its net profit dropped to 0.44 million euros in the first quarter from 7.34...

...million a year ago.

Last year, Orco reported higher profits due to an asset revaluation, but the firm had no new project up for revaluation in the first quarter, it said in a statement.

Orco said sales revenues jumped by 263 percent to 58.6 million euros from 16.15 million. It said it maintained its full-year sales outlook of 223 million euros.

[PRAGUE/Reuters/Finance.cz]

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