SARAJEVO (Bosnia and Herzegovina), May 27 (SeeNews) – Bosnian producer of wood and timber products and furniture Sipad Komerc [SAJ:SPKM] said its net loss expanded to 6.8 million marka ($3.9 million/3.5 million euro) in 2018, from a loss of 311,738 marka a year earlier.
Operating income plummeted 65.4% year-on-year to 204,876 marka in 2018, while operating costs fell 6.4% to 785,839 marka, the company said in a filing to the Sarajevo Stock Exchange (SASE) on Friday.
Sipad was founded in 1892 as the Bosnia Company until its name was changed in 1893 by its founder Otto von Steinbeis. The company was Bosnia's largest manufacturer of wood and timber products and furniture.
In 1996, Sipad was restructured into a partnership venture.
(1 euro = 1.95583 marka)