Orascom Development Holding (ODH) posts gross profit of CHF 11.3 mn and net loss of CHF 196.4 mn in 2016 compared to a gross profit of CHF 71.1 mn and a net loss of CHF 19.1 mn a year earlier, Invest-Gate reports.

Real estate revenues hit CHF 65.4 mn in 2016 compared to CHF 66.4 mn a year ago, according to the company’s earnings release.

ODH’s total revenues total CHF 237.4 mn in 2016 compared to CHF 306.1 mn a year earlier, which included CHF 65.2 mn of land sales revenue.

“In line with the strategic decision of being selective with land sales moving forward, the Group did not pursue any land sales in 2016,” ODH says in its release.