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Croatia's Agrokor loss seen at 12-15 bln kuna (1.6-2.0 bln euro) in 2016 - report

Croatia's Agrokor loss seen at 12-15 bln kuna (1.6-2.0 bln euro) in 2016 - report Author: Agrokor. License: All rights reserved.

ZAGREB (Croatia), July 26 (SeeNews) - Initial unofficial estimates put the loss of Croatia's ailing food and retail concern Agorkor in 2016 at 12 to 15 billion kuna ($1.9-2.4 billion/1.6-2.0 billion euro), Zagreb-based media reported on Wednesday.

Final official results of Agrokor's business performance will be available in September when PricewaterhouseCoopers completes its audit, while the concern's bourse-listed units should publish their results by the end of the month, news portal Jutarnji List reported.

According to well informed sources, Agrokor's loss totalled 20 billion kuna last year, or 12 to 15 billion kuna when mutual claims between its units are set off. The loss is staggering, especially since Agrokor earlier reported a profit of 400 million kuna in the first nine months of last year, Jutarnji noted.

At the end of last month, Agrokor said it had received over 11,700 claims from creditors in two claim registration processes. The value of these claims is expected to be revealed in autumn.

(1 euro=7.41220 kuna)
 

 

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