Portuguese developer Sonae Sierra booked a net consolidated loss of EUR 159.9 mln in 2009 compared with a negative consolidated result of EUR 185.5 mln a year ago. The company attributed the losses to further writedowns of its assets. However, it added that the pace of devaluation started to slow in the last months of 2009 and that it saw operational improvements in the Portuguese and German portfolio. However, these were insufficient to offset the negative yield effect, the company said in a press statement.
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