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Court-protected Orco postpones 2008 results again
Listed developer Orco Property Group, under protection from creditors by the French Commercial court since 25 March, has again postponed its 2008 results. A statement said it has "reviewed its financial communication planning with the company's court appointed trustee and auditors. The group unaudited 2008 consolidated accounts will be issued on 7 April after market close; the full audited annual report should be communicated to the market by mid-May." Forecasts range from a net loss of e60m to a deficit of e300m, compared with a year-earlier net profit of e88m.