The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Textile group Varteks cuts loss by 74% y/y in Jan-Sep.

Textile group Varteks cuts loss by 74% y/y in Jan-Sep. The textile group Varteks announced that its consolidated net loss declined by 74% y/y to HRK 4.7mn (EUR 0.6mn) in Jan-Sep. The total revenues of the group increased by 2% y/y to HRK 320.6mn while total expenses dropped by 2.1% y/y to HRK 325.1mn. In Q3 alone, the group posted a profit of HRK 1.1mn, which represented a marked improvement as compared to the loss of HRK 5.7mn in the same period last year.  The parent company Varteks posted a loss of HRK 1.9mn in Jan-Sep, which was eight times less than the negative result a year ago. The total revenues of the company remained virtually unchanged at HRK 309.1mn while total expenses fell by 4.5% y/y to HRK 311mn. Exports amounted to HRK 145.2mn in Jan-Sep, and the largest share was to UK (EUR 4.9mn) while the largest growth, of 93.5% y/y to EUR 2.1mn, was registered with Sweden .

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree