Arco Vara Third-Quarter Loss Widens on Construction Costs
Arco Vara AS (ARC1T), the only listed Baltic property developer, said its third-quarter loss widened as rising input costs cut profitability at its construction unit.
The net loss increased to 1.7 million euros ($2.3 million) from 133,000 euros a year earlier, the company said in a regulatory statement yesterday.
Revenue rose 34 percent to 7.8 million euros. The construction unit had a loss of 1.4 million euros after an operating profit of 50,000 euros a year earlier.
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