Bosnia's Federation defence industry reports 3% drop in 2018 profit

The government did not clarify in a statement on its website if the figure refers to the profit in net terms .

Total revenue of defence companies in the Federation were flat at 285.9 million kuna in 2018, while their total costs edged up 1% to 249.9 million kuna, the statement said.

The exports of the defence companies grew by 4% to 210.1 million marka last year, it added.

The industry's total liabilities rose 9% to 253 million marka at end-2018 compared to end-2017.

All defence companies were profitable last year, except for Vitezit which ended 2018 with a loss of 4.3 million kuna.

The defence industry employed 3,680 workers at end-2018.

(1 euro = 195583 marka)