Bosnia's resort operator Jahorina to leave 2010 loss uncovered.

By bne IntelliNews May 27, 2011
The shareholders of Pale-based resort operator Olympic Centre Jahorina have decided to leave their 2010 loss of KM 1.1mn (EUR 0.6mn) uncovered, the company said in a filing to the Banja Luka Stock Exchange. Thus, the accumulated loss of the company, together with losses from previous years totalling KM 0.4mn, will sum up to KM 1.5mn. The company's KM 48.3mn share capital as at end-2010 will remain unchanged. The loss of Olympic Centre Jahorina quadrupled y/y in 2010, while its total assets decreased by 14.5% y/y to KM 51.7mn. Olympic Centre Jahorina manages the Jahorina resort near Sarajevo. Investment Development Bank controls 65% of the company, while the Serb Republic restitution fund and pension disability insurance fund own 14.3% and 6.9%, respectively. The company planned to invest KM 36mn in the 2008-2011 period.
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