Montenegro's Tara aerospace and defence products posts EUR 0.16mn loss in H1.

By bne IntelliNews August 8, 2012
The manufacturer of pyrotechnical aviation cartridges, Tara aerospace and defence products, posted a EUR 0.16mn loss in the first half of the year, as compared to EUR 0.021mn loss in H1 2011, according to the financial results published on the website of the stock exchange. Operating revenues dropped by 60.3% y/y to EUR 0.19mn in H1 due to 59.8% y/y decrease in sales revenues. Operating expenditures declined by 29.8% y/y to EUR 0.34mn. The company was privatised in 2007 by Switzerland's BT International, which is now one of the main shareholders with a 31.9% stake. Montenegro's government has retained a 34.8% stake in the company.

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