Varteks: Income and Export Growing, Debt Halved

By 11 July 2016

The company is negotiating with new partners, expect positive trends by the end of the year

Positive trends in the operation of Varteks Group are continuing in the first quarter of 2016, in which they marked a rise of income and export compared to the same period last year and better business results. The first quarter of 2016 showed a 46% lower loss compared to last year, reported on July 11, 2016.

The Group operated with a 3.8 million Kuna loss, lower by 3.2 million from the loss in the same period in 2015. Total income was made in the amount of 38.8 million Kuna, up by 9%. Income from sales were made in the amount of 36.4 million Kuna, 5.9% more than last year.

Export is up by 4.6% compared to last year. Almost 60% of sales income was made in export and with the continuation of the process of business and financial restructuring, sales income per employee was increased by 7%. The management expects the continuation of positive trends by the end of the year and a positive effect for the financial stability of the Group. In sales the management is focused on new wholesale export markets, currently negotiating with potential new business partners.