BRIEF-Pharol Q2 net profit doubles to 57.6 million euros YoY

miércoles 31 de agosto de 2016 01:55 GYT

Aug 31 (Reuters) - Pharol SGPS SA :

* Said on Tuesday Q2 net profit doubles to 57.6 million euros ($64.2 million) versus 28.5 million euros year ago

* The book value of Pharol's investment in Oi as of June 30 amounted to 99.8 million euros

* "The second half of 2016 will be marked by the evolution of the judicial recovery process (...) in which investee Oi is involved" CEO Luis Palha da Silva said

* Q2 EBITDA loss at 1.9 million versus loss of 5.3 million euros year ago

* Q2 gains in joint ventures and associates up at 64.2 million euros versus 51.9 million euros year ago

* Says intends to exclusively focus on the management of the company's current portfolio, not foreseeing diversification in its activities nor relevant investments

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($1 = 0.8972 euros) (Gdynia Newsroom)