Croatias Varteks cuts Q1 cons net loss 9.6% y/y to EUR 2mn.

By bne IntelliNews July 18, 2012
Croatian textile company Varteks said its consolidated net loss fell to HRK 15.1mn (EUR 2mn) in the first quarter of 2012 from HRK 16.7mn a year earlier. The company's total revenue fell 25.2% on the year to HRK 65.3mn, while its total expenditures fell 22.6% on the year to HRK 80.4mn, it said in a Zagreb bourse filing. In May, the company said that in 2012 it will continue to follow its objectives, trying to stabilise liquidity, increase revenue, cut operating costs and boost its efficiency. A priority in its business activities until the end of the year will be the maximum utilization and adaptation of its own resources along with the development and implementation of new approaches to sales and market conditions.

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