ECM losses over the first half of 2012 came to €8.1m, which was considerably less than in 2011, when the number reached €24.7m. However, its portfolio value took a 2.8 percent hit compared to last year, falling to €103m. Its operation losses for the first six months of the year were €4.74m, while administrative and personnel expenses were slashed 46 percent. In a press release, ECM writes that it is preparing for a sell-off of key assets that is to take place in the third quarter of 2012. Foremost among these is its residential highrise project City Epoque, located in Pankrác – Prague 4. The company has been in a restructuring process since mid-March, with a report on the way forward due to be produced by September 15.
