Clal Industries reports Q2 loss of NIS 58m

Clal Industries (TASE:CII) is back in the red, it reported today.

The company, which is controlled by IDB Development Corporation (TASE:IDBD), says it lost NIS 58 million for the second quarter of 2002, after netting NIS 2 million in the previous quarter. Yet its loss is 15% less than in the parallel quarter of 2001.

The contribution of affiliated companies to the loss came to NIS 28 million.

Revenues also eroded, to NIS 631 million, down 10% from the parallel quarter.

The company's accrued loss in the first half of 2002 is NIS 56 million, sharply down from the NIS 302 million it lost in the parallel six months of last year.

In the first half, affiliated companies generated NIS 12 million losses for Clal, compared with NIS 305 million in the parallel half.

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