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Leading Croatian artificial fertilizer producer reports loss of HRK 136.1 mln

ZAGREB, Feb 14 (Hina) - The Petrokemija artificial fertilizer producer made a loss of HRK 136.1 million in 2010, 49.1 percent less than in 2009, according to a report Petrokemija published on the Zagreb Stock Exchange on Monday.

The revenues of this company, headquartered in Kutina, rose 16.7 percent on the year to HRK 2.29 billion, while its expenses increased 8.8 percent to HRK 2.42 billion.

In 2010, Petrokemija increased its output by 30.5 percent on the year, its sales went up 14.7 percent, while personnel costs were reduced by 17.2 percent.

However, its overall performance was affected by a drop in domestic fertilizer sales and a rise in the prices of raw materials, notably gas.

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