Ingra Reports Earnings Results for the First Quarter Ended March 2018
Ingra reported earnings results for the first quarter ended March 2018. For the quarter, the company reported consolidated net loss of HRK 4 million ($649,335/€540,060) in the first quarter of 2018, compared with a net profit of HRK 10 million in the prior-year period. Revenue dropped 32% year-on-year to HRK 32 million, while sales revenue fell 40% to HRK 15 million in the three months through March. The decrease in sales revenue is the result of reduced activity in the construction of a hospital in Algeria, due to the financial difficulties faced by Ingra's main partner in the project.