Accor Posts H1 Net Loss

Accor SA ACRFF posted a net loss in the first half. Accor projects earnings before interest and taxes (EBIT) of 510 million euros ($642 million) to EUR530 million this year. In the first half, Accor posted a net loss of EUR532 million, versus a year-ago net profit of EUR41 million. Its EBIT came in at EUR212 million, versus analysts' estimates of EUR216 million. Accor's sales dropped 0.1% to EUR2.72 billion. Accor shares gained 0.15% to close at $33.50 yesterday.