Czech Orco beats falling market on high NAV

...net asset value at the end of the last year.

The stock traded at 3,223 crowns at 0834 GMT, beating the Prague PX index which stood 0.42 percent lower.

Late on Monday, Orco reported a rise in NAV to 92 euros per share at the end of 2006 from 49.7 euros a year ago, above four analysts' average forecast of a rise to 83.6 euros.

The company also reported it was selling its hotels portfolio and slashed its 2007 sales outlook to 223 million euros from 320 million. It declined to comment on the sales forecast.

[PRAGUE/Reuters/Finance.cz]