Elektroprivreda Srbije JP, Serbia’s dominant power company, said its unconsolidated net loss fell 50 percent to 2.4 billion dinars ($27.5 million) in 2012 because of cost cuts.
The result at the Belgrade-based parent company, excluding its power-generating and distribution units and coal mines, dropped from 4.8 billion dinars a year earlier, according to a statement published on its website.
The state-owned utility expects a consolidated loss of about 33 billion dinars for 2012, acting Chief Executive Officer Aleksandar Obradovic said Feb. 7. The company, known as EPS, had a consolidated net income of 26.8 billion dinars in 2011.
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