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Lebanon- Solidere posts 16.9% loss in 2011 profits  Join our daily free Newsletter

MENAFN - 06/06/2012

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(MENAFN) The Lebanese real estate giant Solidere published a 16.9 percent decrease in profits in 2011, noting that the economic and political instability of the region and the country took a toll on the company, reported the Daily Star.

The largest Lebanese company said that their 2011 post-tax profits hit USD162.6 million, in contrast with the 2010 post-tax profits of USD195.5 million.

Despite the decrease in profits, the company did not seem too upset by the USD32.9 million drop. Solidere said that the 2011 profits were proof to the stability of the company despite the difficult domestic and regional situations that affected the economic sector negatively.

Furthermore, their consolidated net profits in Lebanon and abroad hit a total of USD158.7 million.

 






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