Serbian furniture maker Simpo 2023 net loss widens

Revenue rose to 2.08 billion dinars in 2023 from 1.98 billion dinars a year earlier, while operating costs increased to 3.02 billion dinars from 2.88 billion dinars, Simpo said in its consolidated annual financial report filed with the Belgrade bourse on Thursday.

Consolidated operating loss expanded to 946 million dinars from 910 million dinars in 2022.

Simpo also said it consolidated exports rose 4.2% to 12 million euro ($13 million) in 2023, meeting 49% of its annual plan.

The government controls more than 50% of Simpo through various state funds.

The company's shares did not trade on the Belgrade bourse in the past year.

(1 euro = 117.108 dinars)