Bosnian utility RiTE Gacko turns profitable in Q1.

By bne IntelliNews June 7, 2011
Bosnian coal mine and power plant complex Gacko (RiTE Gacko) turned to a net profit of KM 1.1mn (EUR 0.6mn) in Q1 after a KM 5mn loss a year ago, the company's financial results, filed with the Banja Luka Stock Exchange, showed. The overall revenues surged by 48.2% y/y to KM 30.7mn, while the total costs grew by 15% y/y. The company's assets fell by 0.6% ytd to KM 453.8mn as at end-March, while its share capital remained unchanged at KM 379.9mn. RiTE Gacko's long-term debts increased by 3.8% ytd to KM 20.6mn, while the short-term obligations decreased by 19.7% ytd to KM 15.7mn. The company employed 1,566 people as at end-March, down by 0.9% y/y.

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