(RTTNews) - Elbit Imaging Ltd. (EMITF: News ) on Monday said reported a loss for the second quarter, as revenues declined significantly from the previous year period. The company's second-quarter loss amounted to NIS 251.96 million, compared to profit of NIS 56.01 million in the corresponding quarter of 2008.

Loss attributable to the equity holders of the company for the latest quarter was NIS 207.14 million, in comparison with NIS 15.76 million profit attributable to the equity holders of the company in the previous year.

Second-quarter revenues and gains in 2009 totaled NIS 167.52 million, significantly lower than NIS 496.32 million in the previous year.

The company is engaged in five principal fields: shopping and entertainment centers, hotels, image guided treatment, residential projects and other activities.
For the first half of the year, loss attributable to the equity holders of the company widened to NIS 186.15 million from NIS 11.59 million reported last year. Revenues and gains slumped to NIS 383.37 million from NIS 691.48 million in the prior year period.

Commenting on the results, Shimon Yitzhaki, President and CEO of the company, said, "We see progress in all of the group's segments of operations, despite the challenging market conditions created by the world crisis.''

EMITF closed Friday's regular trade at $27.71, up from the previous close of $27.30, on 1500 shares.

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by RTT Staff Writer

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