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Sep 13, 2007 13:55 EEST
September 13 (SeeNews) - The net profit of Bosnia's biggest engineering firm Energoinvest fell to 578,000 marka ($410,000/295,000 euro) in the first half of this year from 1.68 million marka in the same period of 2006, figures showed on Thursday.
The company's assets totalled 337.4 million marka at the end of June, up from 331.0 million marka a year earlier, it said in its half-year financial report filed with the Sarajevo Stock Exchange (SASE).
Following are details from the report (in millions of Bosnian marka):
State-controlled Energoinvest is Bosnia's biggest engineering company. It is based in Bosnia's Muslim-Croat Federation, which is one of the two autonomous parts of the war-divided Bosnia. The other is the Serb Republic.
The company signed several large contracts last year, including one for a 160 million euro ($222 million) transmission line project in Libya and a 10.5 million euro transmission stations project in Macedonia. It has also won several smaller projects in Algeria, Ethiopia, Ireland and Bosnia and a 27.5 million euro power plant renovation deal in Serbia.
Last October, the Federation government called an international tender to sell its 67% stake in the company valued at 147.9 million marka but suspended the sale last month until a new evaluation procedure is completed. The remaining 33% of the company are with private shareholders and investment funds.
Energoinvest is Bosnia's fifth-largest exporter. It employs 733.
(1 euro = 1.95583 Bosnian marka)
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