Tigar AD decreases losses

1H this year has seen Pirot-based Tigar AD decreasing losses by 31% due to cost reduction so the last consolidated business loss at Pirot-based company totals RSD 291,4 m, the company announced.

The company generated profit of RSD 1,2 billion in 1H2014 which is7,1 % less compared to the same period last year.

Within Tigar holding, Tigar obuca generates the best results with sales up by 22,8% so it sold goods totaling RSD 711,7 m, RSD 578,7 m went to foreign markets.

Net company loss is RSD 560,7 m which is 10,5 % better result compared to the same period last year.

Tigar AD employs some 1.700 people and is the largest rubber footwear producer in this part of Europe.