REO first-half loss slashed to €52m

REAL Estate Opportunities (REO) – the international property development company controlled by Irish firm Treasury Holdings – has slashed its first-half pre-tax losses to £45.3 million (€52.2m), from just under £200.5m last year.

The London-based company’s loss-per-share figure for the six months to the end of August was 13.6p, down from 58p for the corresponding period last year.

REO, which is expected to complete the spin-off of its Battersea Power Station site in the new year, said the value of its overall property portfolio fell 4.3% to just over £1bn on a quarter-by -quarter basis, while its Irish portfolio fell by 5%.