Orascom Development Narrows Consolidated Loss To CHF 15.5 Mln; H1

Orascom Development Holding AG (Orascom Development) – ODH (ODHN.CA) reported a consolidated loss of CHF 15.528 million ($16.46 million) during the first half of 2012, 88.1% lower than a year earlier loss of CHF 130.192 million.

Revenues during H1/2012 hiked to CHF 132.912 million, compared to CHF 106.688 million a year earlier. The company’s gross profit – after excluding the cost of sales – declined to reach CHF 12.037 million during H1/2012, Compared to CHF 16.322 million during H1/2011.

Furthermore, the standalone business results for H1/2012 revealed a net loss of CHF 11.418 million, compared to CHF 10.05 million a year earlier.