Moshkovitz belatedly reports NIS 100 million loss for 2001

Y. Moshkovitz Construction Company (TASE: MOSH ) today belatedly filed its financial statements for 2001.

Moshkovitz reported losing NIS 100 million, compared with losing NIS 31.4 million in 2000.

The company's turnover sank to NIS 89 million in 2001, versus NIS 350.5 million in 2000 and NIS 177 million in 1999.

The company reported a gross loss of NIS 24.7 million for last year, against a gross profit of NIS 11.3 million for 1999.

Last week the court agreed to allow the sale of Moshkovitz's share in an office complex prokect in Yad Eliyahu, a Tel Aviv neighborhood. Fifty percent of the project will be sold for NIS 240 million, all of which will go to cover Moshkovitz's debts.

The company's debts to secured creditors have reached NIS 414 million.

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