Nordecon Says Fourth-Quarter Loss Narrowed as Costs Decline
February 08, 2012, 10:30 AM ESTBy Ott Ummelas
Feb. 8 (Bloomberg) -- AS Nordecon, the second-biggest publicly traded Baltic builder, said its fourth-quarter loss narrowed as operating and finance costs decreased.
The net loss fell to 641,000 euros ($850,000) from 5.9 million euros a year earlier, the Tallinn, Estonia-based company said in a stock exchange filing today. Revenue jumped 91 percent to 46 million euros, while the cost of goods sold increased 88 percent, Nordecon said.
Other operating costs fell to 13,000 euros from 3.1 million euros a year earlier, the company said. Finance costs declined to 194,000 euros from 2 million euros.
--Editor: James Kraus
To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net
To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net
