Bar-based Kontejnerski terminal posts Q1 loss of about EUR 377,000, up 55 percent from previous year

Bar-based company Kontejnerski terminal i generalni tereti (Container Terminal and General Cargo - KTGT) made a loss of EUR 377,443 in the period January-March 2014. This loss is 55 percent bigger than the one from the same period last year totaling EUR 243,359. Let us remind you that the state has sold KTGT to Turkish company Global Ports.
The business revenues of this company grew substantially from EUR 1.5 million to EUR 4.49 million, and so did business expenditures - from EUR 1.74 million to EUR 4.78 million.

Increased payments to workers, which grew from EUR 1.24 million to EUR 4.28 million, contributed to the large growth of expenditures and this bad result. Namely, in the given period, redundant workers received severance pays.

AD Port of Adria Bar

Global Ports Holding Turska

Kontejnerski terminal i generalni tereti

severance pay