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Article: Five Spanish real estate listed companies post EUR 888.6m combined loss in H1 '09.
- Article from:
- ADP News Spain
- Article date:
- August 31, 2009
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(ADPnews) - Aug 31, 2009 - Five of the listed Spanish real estate companies reported on Friday a combined net loss of EUR 888.6 million (USD 1.269bn) for the first half of 2009.
Most of the negative balance was on the account of Martinsa Fadesa's (MCE:L1MTF) loss of EUR 527 million. In fact, the company succeeded in cutting loss by 75% year-on-year, as the amount set aside for provisions, at EUR 464 million, was far less than last year's EUR 2 billion.
Peer Metrovacesa (MCE:MVC), on the other hand, booked a net loss of EUR 178 million until June 2009 against a ...