The Križevci milling and baking industry Mlinar reported a loss of 1.12 million kuna in the first six months of this year, while in the same period last year the company achieved a profit of 1.2 million kuna, according to the financial report of Mlinar published by the Zagreb Stock Exchange.
Mlinar’s sales revenue decreased by 6.5 percent in the first half of this year, amounting to 99.5 million kuna, while total revenue fell by 5.5 percent to 104.85 million kuna. At the same time, financial and extraordinary revenues increased, totaling slightly more than 4 million kuna. Meanwhile, total expenses were reduced at a lower rate than the decline in revenue – by 3.5 percent, to 105.9 million kuna. The report does not clarify the reasons for the decline in revenue and profit, but it only states that the results from the first half of this year are lower compared to 2006 and against plans, as well as that the company is facing significant liquidity issues and is struggling with the collection of disputed receivables from customers. (H)
