BUSINESS

Oil Refinery in Bosanski Brod reduced its Loss

rafineryOil Refinery in Bosanski Brod ended the third quarter of this year with the loss of around 9.7 million BAM.

The financial report for the third quarter of 2015, published on the Banja Luka Stock Exchange, stated that the loss of the company was significantly reduced in comparison to last year, when in the same period it amounted to 27.5 million BAM.

However, the accumulated loss of the Oil Refinery is greater than half a billion BAM and at the end of the third quarter of this year it amounted to 536.5 million BAM.

Obligations of the Oil Refinery are larger than 662 million BAM, out of which long-term obligations amounted to 586 million BAM, and it owes 516.8 million BAM to related legal entities.

It is also added in the report that the largest part of short term liabilities, which amounted to 46 million out of 76 million BAM in total, are related to obligations to related legal entities.

Refinery realized income in the amount of 73 million BAM for 9 months of the year, and the biggest part of the sale was to related legal entities in the amount of 56.4 million BAM.

(Source: novovrijeme.ba)

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