Bosnias electrodes producer Elvaco says Q1 loss up by 39% y/y.

By bne IntelliNews May 30, 2011
Bosnian producer of welding electrodes Elvaco widened its loss by 39% y/y to KM 0.6mn (EUR 0.3mn) in 2010 from KM 0.4mn a year earlier, the company said in a filing to the Banja Luka Stock Exchange. Total revenues decreased by 12.5% y/y to nearly KM 2mn, while costs were down by 4.1% y/y, according to the companys preliminary results. Elvacos share capital amounted to KM 12.7mn as at end-March. Its assets totalled KM 18.6mn, down by 1.6% from end-2010. The companys long-term debts increased by 10.2% ytd to KM 6.5mn, while short-term ones decreased by 4.5% ytd to KM 6.4mn as at end-March. We recall that two years ago, Bijeljina-based company Bobar bought 51% of Elvaco for about KM 3.3mn from engineering company Integral Inzenjering. The shares were sold on the Banja Luka Stock Exchange as part of Integral Inzenjerings restructuring plans.
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