Analytics, Estonia, Financial Services, Markets and Companies, Real Estate

In the second quarter of 2014, the total revenue of the group was 1.1 million euros (in Q2 2013: 3.5 million euros).

Arco said that decline of revenue in the second quarter was related to the development division, where decrease of revenue amounted to 2.4 million euros compared to the same period of previous year. The main reason for revenue decrease is because the group’s development projects are in such stage, where revenue is not accrued yet, the company said, adding that increase of revenue from the development division is expected in the second half of 2014.

In the first six months of 2014, the revenue from continuing operations was 2.2 million euros, which was 3 million euros lower compared to the same period of previous year.

In six months 2014, the group’s operating profit amounted to 0.5 million euros and net profit to 0.03 million euros. Last year the corresponding profit figures were 2.0 million euros and 1.5 million euros.