Orco 9-month net profit half of market forecast

22.11.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

PRAGUE, Nov 22 (Reuters) - Luxembourg-based Orco Property Group <ORCO.PA> <ORCOsp.PR> said on Wednesday its third quarter net profit and total revenues were well below market expectations, in part due to lower-than-forecast asset revaluations.

Orco said in a statement that net profit totalled 22.92 million euros, less than half the average market estimate of 46.03 million euros.

It added in a statement that revenues for the nine-month period were 79.64 million euros, well below the 96.93 million euro forecast of analysts.

Orco said its net gains on fair value adjustments were 41.42 million euros, against analysts' expectations of 59.1 million euros. ((Reporting by Alan Crosby, editing by Will Waterman; prague.newsroom@reuters.com; Reuters Messaging: alan.crosby.reuters.com@reuters.net; +420 224 190 477))

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Keywords: PROPERTY CZECH ORCO

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