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TETO Senta sugar producer reports loss for 1H 2014
Source: eKapija
Thursday, 07.08.2014.
15:40
Thursday, 07.08.2014.
15:40
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Senta-based sugar factory TE-TO (TETO) reported 1H 2014 net loss at
RSD 104.6m versus RSD 293.8m profit from 1H 2013.
The negative result appeared on the back of higher costs of purchased good and lower operating revenues which initially triggered operating loss at RSD 18.9m. Sales came in at RSD 2.8bn, up 3.1% y/y but operating sales were down by 30% y/y due to the decrease in inventories by 1.7bn. Expanded financial loss also gave a negative contribution to the bottom line. The company ended 2013 year with earnings of RSD 611.2bn.
The negative result appeared on the back of higher costs of purchased good and lower operating revenues which initially triggered operating loss at RSD 18.9m. Sales came in at RSD 2.8bn, up 3.1% y/y but operating sales were down by 30% y/y due to the decrease in inventories by 1.7bn. Expanded financial loss also gave a negative contribution to the bottom line. The company ended 2013 year with earnings of RSD 611.2bn.
Companies:
Fabrika Šećera TE-TO Senta
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