MirLand Development Corporation Plc reported consolidated unaudited earnings results for the six months ended June 30, 2016. For the period, the company reported total revenues were $17,275,000 against $66,198,000 reported last year. Operating loss was $35,014,000 against $57,817,000 reported last year. Loss before taxes on income was $23,650,000 against $77,436,000 reported last year. Net loss attributable to equity holders of the parent was $20,308,000 or $0.2 basic and diluted per share against $63,098,000 or $0.60 basic and diluted per share reported last year. Net cash flows generated from (used in) operating activities was $4,822,000 against $16,829,000 reported last year. Additions to investment properties were $97,000. Additions to investment properties under construction was $620,000 against $1,642,000 reported last year. Loss was due to the ongoing impact of adverse conditions in the Russian economy, which resulted in the negative fair value adjustment of investment properties of approximately $33.8 million, mainly due to the appreciation of the Russian Rouble against the US Dollar as of 30 June 2016 and a decrease in projected NOI.