Tigar reduces loss in first six months – Loss reduced to RSD 160.5 million

Pirot-based Tigar (TIGR) reported an increase in sales and an improved result in the first six months of 2016, as shown by the company's financial report.

Tigar's consolidated sales amounted to RSD 1.5 billion, which is a growth of 13.5% compared to the corresponding period of 2015. Most of the sales are from export (RSD 788.9 million, a growth of 21.7%). The operating profit reached RSD 50.2, relative to RSD 7.2 million in 2015, whereas the net loss was reduced to RSD 160.5 million compared to last year's RSD 239.5 million.

Tigar operates in line with the adopted Pre-Packaged Reorganization Plan, which came into effect on June 1, 2015.

The PPRP has resulted in the conversion of debts into debts denominated in euros with a payment period of seven years (grace period of two years, during which only the interest is paid) and the interest in the amount of three-month EURIBOR + 3.5%. At the end of June, Tigar's financial liabilities amounted to RSD 7.1 billion, Wisebroker reports.

Tigar a.d. Pirot

Tigar Pirot

Tigar profit

Tigar loss

Pre Packaged Reorganization Plan

PPRP