News:Argos:Orco may say profit fell 98 percent

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Orco Property Group, the central European real-estate developer whose shares have lost 73 percent of their value this year, will probably say first-half profit fell 98 percent as gains on revaluation of property fell.


Net income dropped to 1.1 million euros ($1.6 million) in the first six months from 55.1 million euros in the same period of 2007, according to the median estimate of five analysts surveyed by Bloomberg News. Earnings before interest and taxes, or Ebit, probably fell 32 percent to 67.7 million euros.

Turkish Daily



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