Profit of construction company Tehnika halved

The Zagreb-based Tehnika company wrapped up the year 2015 with a net profit of slightly over HRK 500,000, which is half the profit in 2014, as a result of "insufficient fulfilment of its capacities, notably in Zagreb" and also due to reducing margins and a decline in the prices and the volume of sale of flats, reads a consolidated report issued by this construction company.

Last year, nine companies in Croatia and one company in Bosnia and Herzegovina that make up the Tehnika Group, earned revenues in the amount of HRK 754 million, which was 5.9% higher on the year. The expenditures rose by the same percentage to HRK 752.5 million.

Thus, the net profit in 2015 was 567,500 kuna as against the net profit of HRK 1.28 million in 2014.

 

(EUR 1 = HRK 7.6)

Last update: Mon, 15/02/2016 - 12:29
Author: 

More from Business

Financial leaders in Davos optimistic about US, but see trade risk

The US economy will likely profit from the planned policies of its new president, as long as Donald Trump does not...

Facebook to build data centre in Denmark

The Danish city of Odense and social media giant Facebook announced on Thursday the city was to host a new European...

Freight train from China crosses 12,000 kilometres to London

The first Britain-bound freight train from China arrived in London on Wednesday, completing an 18-day trip across...

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that...

General Motors announces 1-billion-dollar investment in US workforce

General Motors will join other carmakers in opting to invest and hire inside the United States, the company...