Sibenik (Croatia): TLM widens net loss to 29.6 mn euro

Croatian aluminium smelter Tvornica Lakih Metala (TLM) widened its net loss by 56 mn Croatian kuna ($9.79 mn/7.58 mn euro) to 218.8 mn kuna ($38.25 mn/29.6 mn euro) in 2004. The company increased its revenue by 48.2% to 806 mn kuna ($140.91 mn/109.04 mn euro) in 2004. Domestic operating revenue rose by 3.7% to 148.6 mn kuna ($25.98 mn/20.1 mn euro). The company doubled its operating revenue to 593.1 mn kuna ($103.69 mn/80.24 mn euro). TLM's costs rose by 45% to over 1.0 bn kuna ($174.82 mn/135.29 mn euro). The Croatian Government owns 86% in TLM, which will be privatised by the end of 2005, (www.seeurope.net - 04/22/05)

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