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Audit shows Croatia's Agrokor 2016 net loss at 11 bln kuna
October 9, 2017 / 1:48 PM / 2 months ago

Audit shows Croatia's Agrokor 2016 net loss at 11 bln kuna

ZAGREB, Oct 9 (Reuters) - Croatia’s indebted food group Agrokor suffered a net loss last year of 11 billion kuna ($1.72 billion), an audit ordered by the company’s state-appointed management team showed on Monday.

The audit, performed by PricewaterhouseCoopers (PWC) also showed net loss in 2015 of 3.6 billion kuna against a net profit of 1.2 billion kuna released by the previous management.

The value of Agrokor’s capital for 2015 and 2016 was reduced by 22 billion kuna.

Agrokor, the biggest employer in the Balkans with around 60,000 staff, was brought under state-run crisis management after suffering a liquidity and debt crisis. (Reporting by Igor Ilic; Editing by Ivana Sekularac and David Evans)

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