November 8 (SeeNews) - Croatian fertiliser producer Petrokemija [ZSE:PTKM-R-A] said its consolidated net loss expanded to 343.3 million kuna ($52.7 million/46.2 million euro) in the first nine months of 2018, from 118.6 million kuna a year earlier.
The company's operating revenue decreased 12.23% on the year to 1.266 billion kuna in January-September, while operating costs fell to 1.482 billion kuna from 1.54 billion kuna, Petrokemija said in a filing with the Zagreb bourse.
Last month, Petrokemija completed a 450 million kuna capital hike through the conversion of claims into share capital to cover the 242.6 million kuna loss recorded in 2017, following which Petrokemija will carry out a reverse stock split to cut its capital by 392.6 million kuna.
The Petrokemija group employs 1,595. The Croatian government controls 79.85% of Petrokemija.
(1 euro = 7.43528 kuna)