August 29 (SeeNews) - Croatian construction company Tehnika [ZSE:THNK-R-A] said its non-consolidated net loss narrowed to 232 million kuna ($34.7 million/31.4 million euro) in 2018, from 246.2 million kuna a year earlier.
The company's operating income plummeted 35% to 318.5 million kuna, Tehnika said in an audited financial report filed with the Zagreb Stock Exchange (ZSE) on Tuesday.
Tehnika's total non-consolidated revenue dropped to 324.9 million kuna in 2018 from 503.3 million kuna the year before, while expenses decreased 25.7% to 556.9 million kuna.
The company's total assets amounted to 526.3 million kuna at the end of 2018, compared to 765.5 million kuna a year earlier.
Tehnika's shares closed 7.46% lower at 273 kuna on Wednesday on the ZSE.
The company's share price has more than doubled since the beginning of July following an announcement that Zagreb-based Luxury Real Estate (LRE) company has acquired a 20% stake in Tehnika's capital from its affiliate Tehnika ESOP for an undisclosed price, thus becoming the largest single shareholder of the construction company.
According to earlier local media reports, Luxury Real Estate has the support of China's Zhongya Holding
Zhongya plans to launch construction works on a 200 million kuna tourism project in Croatia in 2020, its founder Jiang Yu said earlier this month.
(1 euro = 7.40177 kuna)