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Metrovacesa Records Losses of €76 Million in H1 Despite Increasing its Revenues by 15%

Even though the property developer increased its turnover by 15% to 96.3 million euros during the first six months of the year, it recorded losses of 75.9 million euros.

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The property developer Metrovacesa has presented its results for the first half of the year, when it recorded revenues of 96.3 million euros, up by 15% compared to the same period in 2019.

However, “the deterioration in the valuation of its assets has negatively impacted the company’s net profit” and so it closed the first half of 2020 with losses of 75.9 million euros.

Read the full article in Spanish.

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