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Croatia's Institut IGH to cover 2021 loss with future profit

Author Annie Tsoneva
Croatia's Institut IGH to cover 2021 loss with future profit Ken Teegardin/CC BY-SA 2.0

ZAGREB (Croatia), August 4 (SeeNews) - Croatia's civil engineering company Institut IGH [ZSE:IGH] proposed to its shareholders to cover its loss of 51.1 million kuna ($6.9 million/6.8 million euro) for last year with future profit, it said.

The shareholders will vote on the proposal on September 12, Institut IGH said in a filing to the Zagreb bourse on Wednesday.

Last year the shareholders decided to use its net profit of 1.5 million kuna for 2020 to cover losses from previous years.

Institut IGH said earlier on Wednesday it was awarded an 8.7 million euro ($8.9 million) deal for supervision and legal advisory services related to the construction of European transport corridors VIII and Xd in North Macedonia.

Shares of Institut IGH last traded on the Zagreb bourse on Tuesday when they closed 8.13% lower at 73.50 kuna.

(1 euro = 7.516 Croatian kuna)

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