Alas Holding posts big losses for 2013

Alas Holding, a building materials manufacturer, yesterdat updated its income statement on the Belgrade Stock Exchange, which now states that the company registered a huge loss of about RSD 2.1 billion in 2013. Although business revenues were as low as RSD 118 million, the company's expenditures grew from RSD 6.7 million to whopping RSD 2.07 billion, Sinteza Invest Group reports.

Alas Holding, which is controled by Austria's Asamer, owns the quarry Alas in Rakovac (74% stake), Zorka Keramika from Sabac (100%) and Zorka Opeka (80%). Let us remind that minor shareholders of Alas Holding's subsidiaries have recently protested in Sabac because the majority owner does not respect legal obligations and announced they will press charges for alleged malversations.