Pasal Development SA on Wednesday said operating revenue totaled 1.55 million euros in the first half of the year from 1.57 million in the same period in 2016, while asset value reached 97.1 million.

Consolidated after tax and minorities losses rose to 5.95 million euros in the January-June period, from 2.59 million last year, burdened by tax increases. Net borrowing (loans minus cash reserves) totaled 128.86 million euros at the end of June.

Pasal is seeking to sign a debt settlement deal with creditor banks based on a new business plan aimed to ensure sustainable operation and development. The management also seeks to attract foreign investors in the company.